Reopening of Commerce: Post-Quarantine Sales

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The reopening of businesses with the easing of the Covid-19 quarantine is already a reality in many Brazilian cities.

But we are still far from returning to the “normal” state of sales, especially for those who work with their own credit .

It will be necessary to reevaluate some procedures, especially those related to collection and analysis , to adjust the granting of credit in your business to these new times.

To help you adapt, I recorded a video with some important recommendations based on what we have observed in commerce here in Santa Catarina, where Meu Crediário is headquartered .

Click play and check it out:

YouTube video
Most customers are eager to pay
The first thing we are noticing with the resumption of ios database sales is that many store owners are worried about whether they will receive the installments that were due during the quarantine.

Here in our state we have learned that several stores have started to operate behind closed doors, focused solely on making payments possible.

Customers were notified via WhatsApp or SMS messages that they could only visit the store to pay the installment plan that was due that month.

Many stores that did this had an above-average collection rate.

Even though it was a questionable practice from a public health perspective, this movement demonstrated that a large portion of customers were really eager to pay their overdue installments.

That is great!

Our assessment is that default rates will rise sporadically for now, will remain slightly above average for some time, but will tend to return to normal.

The importance of credit analysis for new sales
A second fundamental point for those who sell on credit is to redouble their care with credit analysis after the reopening of businesses.

From now on ALL new sales on the booklet must go through this process.

Forget all the conditions you have been using until now to justify a sale without credit analysis .

If before it was possible to reuse an analysis and consult good clients only from time to time, today it is no longer safe to work like this.

We know that the restrictions imposed by the coronavirus pandemic ended up causing countless losses to consumers' income.

In practice, this means an increase in the risk of credit operations.

I.e:

That traditional customer , who has been buying from your store for years and has always had a low-risk profile, may be experiencing financial difficulties and you don't know it yet.

Given this, your store cannot return to selling after the quarantine without rethinking its analysis model and reformulating the criteria for assessing credit risk .

The advantage for users of the Meu Crediário system is that they don't need to worry about this.

Our development team is working daily to adapt our credit engine to the new reality of the post-coronavirus market.

Your only concern should be to analyze everyone, without exception!

Demand for credit tends to increase
Anyone who follows the news will have already seen that some banks are increasing interest rates and reducing limits for financing companies and consumers.

Consequently, this will have an impact on credit sales .