DURBAN — Easter is a peak trading period for South African retailers, however, in the face of a global pandemic, the period must be seen as a golden trading opportunity between Covid-19 waves, according to Steven Heilbron, chief executive of the Connect Group.
He said, “Now is the time for retail merchants to innovate in preparation for consumer spending during the Easter weekend and school holidays. It is up to retailers to make the most of this opportunity to cash in ahead of the predicted third Covid-wave”.
The Easter period is when the cash in circulation figure spikes as a result of consumer spending habits.
“For retailers, this is a good thing as there are many benefits to trading with cash, especially the fact that it is far more cost-effective for retailers to trade with cash,” said Heilbron.
Retailers can really benefit in the sense that they can take advantage of alternative finance solutions (trading capital).
Having access to trading capital is vitally important for retailers because it allows them to stock up and run the specials and promotions.
It also allows them to make bulk purchases at discounted prices – automatically increasing their profit margins.
Here are some ways that businesses can take advantage of Easter trading:
Innovate
Despite Covid-restrictions having been lifted, some lifestyle changes seem to have become entrenched. To stay in the game, retailers must innovate around this new normal. For instance, same-day or even same-hour delivery of groceries, as well as drive-through collection, is proving to be a lucrative business model for some retailers. The point is that some of these innovations are not tied to the pandemic but are paving the way for the future of retail. How are you innovating to stay in the game?
Outsmart the competition
Innovation is key. It secures your business by setting you apart from the rest. Outsmart, out-think your competition - be it with a new fleet of delivery vehicles, a renovation that gives your customers an enhanced in-store shopping experience, or an online store with some unique benefits. The good news is that cash flow doesn’t have to hold you back. These days, South African retailers have access to fast, hassle-free business finance options. It is, for instance, possible to secure opportunity capital in just 24 hours, enabling retailers to grow, even amid a global pandemic.
Increase sales and profits
It is simple. Take advantage of alternative business finance offerings that will give you a reliable cash injection with minimal red tape and delays. Use the cash flow to negotiate bulk stock purchases at discounted rates – an uncomplicated strategy that immediately and automatically boosts profit margins.
“Easter 2021 is indeed the golden opportunity between Covid-19 waves. With reports of an expected third wave early in May, retailers have to make the most of the Easter shopping opportunity. All it takes is to be agile, innovative and able to spot growth opportunities,” Heilbron said.
BUSINESS REPORT ONLINE