April 22nd, 2020
What do you see the business community focusing on coming out of the COVID-19 lockdown with regards to moving forward and what changes you foresee being implemented with the ‘new business norm’?
Trinidad and Tobago Coalition of Services Industries Limited (TTCSI)
The services sector has been particularly hard hit by the stay-at-home order, so firms need to keep in touch with customers throughout this time and could consider offering special discounts, flexible payment plans, customized services, etc –to entice customers back once they reopen. This is particularly true for the tourism sector, which will experience a very slow recovery period. Some firms may continue with a segment of their staff working from home, and others may adapt their services to include online ordering, delivery services, etc.. but for many it will be just trying to get customers back through their doors. There will be opportunities for firms in advertising, marketing and signage to support small businesses announcing their re-opening, so I think we will see some interesting collaborations.