Cork-based online store opens up its platform to local retailers for free
AN online sales platform founded by a Cork entrepreneur is doing its part to support local retailers through the COVID-19 crisis by offering them the opportunity to list their products for free through its portal.
The NRG Store, a division of the Sea Box Group, was initially set up to produce Ireland’s first all-inclusive ‘click-and-delivery’ service specialising in the construction and energy sector, while also focusing on home improvements, home ware, furnishings, design and trades materials.
It currently sells more than 13,000 products through it website, www.nrgstore.ie, ranging from tools to furniture to smart devices.
Its founder and managing director, Patrick Hogan, said the idea behind the store was to provide customers with a wide choice of goods and services that would allow them to fully complete a home build from conception to completion.
However, he said that all retailers now face considerable difficulties as a result of the dramatic changes in how they are forced to interact with their customers, with many also not having an online sales presence.
With this in mind, he said the NRG Store is now offering to host Cork retailers and businesses on its sales platform for free as the Coronavirus continues to wreak havoc on the more-established face-to-face trading practices.
“Technology can and should be used to support all retailers during this time. With this in mind, we believe our platform can be adjusted to support many more businesses that are at risk of a significant drop in traditional income as a result of the COVID-19 pandemic,” said Mr Hogan.
He said the initial plan is to invite companies based in Cork city and county to join the NRG Store. Should this prove successful, Mr Hogan said the initiative can be extended to other businesses.
“Goods ordered through NRG Store can be shipped from traditional retail outlets using established delivery pathways, and offers consumers the option of completely contactless sales,” he said.
Any Cork business seeking to join NRG Store is asked to make contact with the company by email via Patrick@nrgstore.ie.
7. Staffing decisions are the most difficult decisions for any business owner or manager. In the scenario where the business is under acute stress then there are some options that must be considered. Acting with integrity and fairness at this difficult time is vital.
Reduce hours not salary. For example, two- or three-day weeks are a real option for a period of time. If salary cuts are necessary, senior staff should cut their salaries first. If you have to reduce staff numbers, try and do it once and not have the constant threat of staff redundancies. Your team will struggle with multiple restructures.
It is vital that you inform your team of the various Department of Social Welfare supports that are available to your employees.
8. Mind your best customers: add more value, don’t increase cost to them.
9. While reducing marketing spend in the very short term will make sense for most businesses. Once the initial crisis passes your business will need to invest in marketing to start sales moving again.
Ultimately sales will drive the business and, without sales, everything comes to a halt.
10. Create a new budget: The budget you did towards the end of your last financial year is no longer fit for purpose.
A revised budget and cashflow with a new sales forecast are vital to helping you manage through this period. Importantly, examine how much of the new forecast belongs to existing clients and how much of it relies on new client acquisition. Assume you will lose a significant amount of this forecasted new business. How does that impact your staffing decisions?
This is also a critical time for leaders to show real communication skills. Let your team know, in as far as possible, the current state of the business and the decisions you are taking. Work with your team to come up with solutions where possible. While easy to talk about positivity it is vital for leadership to remain as positive as possible.
Sadly, it’s not so long ago that we were in a similarly challenging business environment. The financial crisis of 2009 is still fresh in many business leaders’ minds. Taking clear and decisive action early to deal with this shock to your business is critical’.