Final answer:
To reopen a business in a newly reopened mall, a business owner must analyze market trends and implement safety measures, balance staffing against current demand, and adapt to diminished sales through an omnichannel approach and an enhanced online presence.
Step-by-step explanation:
As a business owner considering whether to reopen in one of the 49 newly reopened malls, the primary focus would be on analyzing market trends and implementing safety measures. The pandemic has resulted in economic challenges including steep drops in revenue for restaurants and small retailers, and a significant impact on consumer behavior. When it comes to staffing procedures, it would be important to consider the optimal balance of staff to meet current demand while also preparing for any future increases in business. Hiring too soon could incur unnecessary costs, but delaying might result in lost opportunity and strain on existing staff.
Moreover, the business would have to ensure adherence to safety protocols to protect both employees and customers, which might include additional hygiene practices, social distancing measures, and the use of personal protective equipment. The goal would be to build customer trust and confidence in the safety of the shopping environment.
Brick-and-mortar stores must adjust to diminished sales by potentially diversifying offerings, enhancing online presence, and creating a seamless omnichannel experience. This adaptation is crucial to stay relevant and keep business afloat amid changing consumer behavior and the increase in online shopping. Large department store chains have been particularly affected by the coronavirus, and adapting to the new retail landscape will be essential for their survival.