The posts in this series have been drawn from Xero’s Stronger and smarter: a small business handbook. Designed to help small businesses determine which steps to take next, this practical guide uncovers the 10 trends shaping the future – so you can come back stronger and smarter than ever.
Responding to fluctuating buying patterns all comes down to understanding your customers’ mindsets.
As the government restrictions to protect our health eventually ease, people will adapt to the changes at different speeds. Those variations will, in turn, have big impacts on sales for small businesses.
For those supplying household basics, spikes of panic buying are still happening at times – and threaten to reemerge whenever lockdown restrictions return. In contrast, if you’re a small business owner helping people plan their international travel, things are likely to be quiet for some time to come.
When customers purchase can fluctuate and change