With the economic slowdown during the pandemic, various effects have already been felt across a wide range of market sectors. Given all this, what lessons should the Construction Industry implement going forward? We've selected three key lessons:
Preparing for new needs has become essential. In addition to the coronavirus, several other crises can occur, and companies and the market as a whole need to anticipate scenarios, reduce expenses, and establish procedures to manage crises.
The current situation required new habits, procedural changes, and even new ways of serving customers in hardware stores—for example, by doing so entirely online, something that wasn't common before. The lesson learned was that nothing is as immutable as we imagine. we need to look at digital, review business models and invest in changes.
It is necessary to constantly analyze profits and losses and, above all, know how to take advantage of new opportunities with creativity. In times like these, when a customer wants to cancel a purchase, it's worth being proactive and trying to reschedule or generate credit instead of canceling. Another powerful approach during a crisis is to offer the best you have at an attractive price. This is beneficial for the buyer, who pays less, and beneficial for the seller, as it provides financial breathing room, generating revenue to shore up the company's cash flow and provide personal and professional peace of mind.
Sources: Correio Braziliense, Tribuna and Uol
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