OPPORTUNITY AND CHALLENGES FOR SURVIVAL OF SMALL RETAIL STORES IN THE POST-COVID-19 ERA

Abstract

The COVID-19 pandemic affects society the economy, consumer lifestyle and spending behavior change according to the global outbreak situation. Many countries have different measures to deal with the outbreak situation. People's way of life has become a new normal. Consumer behavior and decision to buy products have changed. In the past, preferring to buy products in general stores. When the epidemic started, began to protect themselves by reducing the number of people leaving the house and turning to online shopping more. E-payment behavior is on the rise even as the COVID-19 pandemic begins to subside. Therefore, retail entrepreneurs need to adjust their business strategies and change their sales channels to become omni- channel for business survival in the post-COVID-19 era. For example, using modern equipment and technology, systematic store management, warehouse management, adding sales channels in the form of an online store along with sales through the store, procurement of products and services variety that meet the needs, business development to become a smart retailer, which will receive more attention and acceptance from consumers. This is an opportunity and a challenge for small retail businesses in the future.