Impact of the coronavirus on entrepreneurs in Poland part 2

New opportunities are opening up

At a time when interpersonal contact was limited to the necessary minimum, wider opportunities for online sales and often accompanying freight forwarding were opened. Similarly, all internet activities based on streaming of audiovisual materials. There was also a significant drop in raw material prices on the market. Among others the price of oil has fallen by more than 50%, other commodities also, for example gas. His demand for home use may increase because most people stay at home, the fall in demand in the industrial, commercial and transport sectors will probably be much higher. This means that prices of raw material components in Polish production will also fall. At this time, it will be possible to mobilize own resources or purchase raw materials in larger quantities at relatively low prices.
The price of transport is also falling, while demand for it is rising (excluding air transport). This is due to the increased demand for forwarding, which makes prices more attractive. Especially for domestic deliveries of goods to consumers, whether wholesale quantities or retail purchases.

Changes in consumer behavior

In consumer behavior, not only a change in the place of shopping is noticeable (online, if possible, the exception is grocery shopping or necessary repair services), but primarily a form of payment for purchased goods. Cash is a necessary evil right now. Currently, card payments, contactless payments, transfers using the Blik application or traditional transfers are used. Everything to minimize direct contact.
It is also worth noting the growing importance of self-service cash registers, such as those found in Tesco or the Rossmann chain, which not only improve sales, but also minimize contact between people.
The demand for public transport has also decreased. Domestic, not to mention international, froze, and urban is only used if someone has no other option. The situation is similar with taxis or Uber, which has been popular in recent years.

Conclusions – what should you do?

Most manufacturers and sellers have a real chance to take advantage of the current situation, or at least not feel a significant drop in profits. To sum up, here’s what companies should do to survive this difficult time:
• Focus your activities on the internet / delivering articles to customers, as well as potential advertising.
• It is also a good idea to minimize imports and start your own production based on the low cost of raw materials.
• Gastronomy should focus only on the delivery of dishes, and even providing the option of arriving at the premises and picking up previously prepared dishes.
• You need to be focused on fighting for the consumer’s attention and his desire to buy again. It is worth thinking about attractive offers, promotions and gifts for orders. The buyer will remember this and will return to the seller again.

Impact of the coronavirus on entrepreneurs in Poland part 2