{"id":4602,"date":"2020-04-29T18:53:02","date_gmt":"2020-04-29T13:23:02","guid":{"rendered":"https:\/\/www.idslogic.com\/blog\/?p=4602"},"modified":"2025-02-27T17:50:58","modified_gmt":"2025-02-27T12:20:58","slug":"tips-to-manage-your-ecommerce-business-finances-during-covid-19-lockdown-period","status":"publish","type":"post","link":"https:\/\/www.idslogic.com\/blog\/tips-to-manage-your-ecommerce-business-finances-during-covid-19-lockdown-period","title":{"rendered":"Tips to Manage Your Ecommerce Business Finances in Covid-19"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_72 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.idslogic.com\/blog\/tips-to-manage-your-ecommerce-business-finances-during-covid-19-lockdown-period\/#Keep_Your_Financials_Up_to_Date_and_List_the_Possible_Business_Impacts\" title=\"Keep Your Financials Up to Date and List the Possible Business Impacts:\">Keep Your Financials Up to Date and List the Possible Business Impacts:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.idslogic.com\/blog\/tips-to-manage-your-ecommerce-business-finances-during-covid-19-lockdown-period\/#How_You_can_Inject_Cash_Flow_into_Your_Ecommerce_Business\" title=\"How You can Inject Cash Flow into Your Ecommerce Business?\">How You can Inject Cash Flow into Your Ecommerce Business?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.idslogic.com\/blog\/tips-to-manage-your-ecommerce-business-finances-during-covid-19-lockdown-period\/#Pause_Any_Standing_Orders_with_Your_Suppliers\" title=\"Pause Any Standing Orders with Your Suppliers:\">Pause Any Standing Orders with Your Suppliers:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.idslogic.com\/blog\/tips-to-manage-your-ecommerce-business-finances-during-covid-19-lockdown-period\/#Identify_Alternate_Revenue_Streams\" title=\"Identify Alternate Revenue Streams:\">Identify Alternate Revenue Streams:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-size: 14pt;\">With the nationwide lockdown in India, businesses all over the country is getting affected a lot including online ecommerce. The temporary shutdown of manufacturing facilities, overstocked supplier inventories, disruptions in logistics, conservative consumer spending and etc. is causing a huge strain on the finances and cash flows of many <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/store.idslogic.com\/\">ecommerce stores<\/a><\/span> in India. Now each retailer\u2019s ability to survive this crisis mainly depends on how quickly they can alter their business strategy and supply chain in order to accommodate the consumer\u2019s evolving needs.<\/span><\/p>\n<p><span style=\"font-size: 14pt;\">Fortunately, the governments all over the globe has taken major steps to help such ecommerce stores, and have created programs to help them survive during these turbulent times. <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"\/ecommerce\/\">Ecommerce web development companies in India<\/a><\/span> are helping organizations to upgrade the sites and take advantage of the changing shopping behavior of the customers. In order to help you manage your finances better, we have prepared a list of top recommendations that can help you to be better prepared.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Keep_Your_Financials_Up_to_Date_and_List_the_Possible_Business_Impacts\"><\/span><span style=\"font-size: 18pt; color: #008000;\"> <strong>Keep Your Financials Up to Date and List the Possible Business Impacts:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-size: 14pt;\">In order to understand your present financial state of your business, you can <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"\/ecommerce\/\">hire ecommerce development services in India<\/a><\/span>. that can analyze your site and identity the best possible actions to keep your business afloat. It is crucial to update your financial statements like profitability, liquidity, efficiency ratios, and understand the total financial impact and prepare a sheet. <\/span><\/p>\n<p><span style=\"font-size: 14pt;\">Such analysis will help you to understand the drop in traffic, services that you are unable to provide during COVID-19, key suppliers who are unable to offer products and etc. Once the sheet is prepared, you can revisit the budget and consider the shortfalls impacts on your cash flows.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_You_can_Inject_Cash_Flow_into_Your_Ecommerce_Business\"><\/span><span style=\"font-size: 18pt; color: #008000;\"><strong>How You can Inject Cash Flow into Your Ecommerce Business?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><span style=\"font-size: 14pt;\"><span style=\"color: #800000;\"><strong>Offer Gift Cards<\/strong>:<\/span> Gift cards often provide the retailers with an instant infusion of cash and ensures that the customers will return to their business in the future. Offering gift cards can help your ecommerce business to stay afloat until the crisis passes by.<\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><span style=\"color: #800000;\"><strong>Create a Pre-Order Strategy<\/strong>:<\/span> Customers can understand that it is really a challenging time for the local retailers too and one approach that can prove to be beneficial is to pre order the popular products either by paying an advanced deposit or full amount.<\/span><\/li>\n<li><span style=\"font-size: 14pt;\"><span style=\"color: #800000;\"><strong>Offer Discounts in Underperforming Stock<\/strong>:<\/span> There are many non-essential products that have seen a huge decline in demand. You can easily categorize them and ensure that they are not stocking up and eating up your cash. To bring them in flow, you can offer some discounts on such deadstock inventories.<\/span><\/li>\n<\/ul>\n<blockquote>\n<p style=\"box-shadow: 0 0 16px #cccccc; padding: 10px;\"><span style=\"font-size: 14pt;\"><span style=\"color: #003366;\"><strong>Also Read: <\/strong><a href=\"\/blog\/what-to-consider-before-creating-a-perfect-newsletter-for-your-magento-store\"><span style=\"color: #ff0000;\">What to Consider Before Creating a Perfect Newsletter for Your Magento Store<\/span><\/a><\/span><\/span><\/p>\n<\/blockquote>\n<h3><span class=\"ez-toc-section\" id=\"Pause_Any_Standing_Orders_with_Your_Suppliers\"><\/span><span style=\"font-size: 16pt; color: #003366;\"><strong>Pause Any Standing Orders with Your Suppliers: <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-size: 14pt;\">Based on the current demands of products, and the type of business that you run, some retailers may slow down the production to avoid being stuck with their inventory which they can\u2019t move. In case this applies to you, then rethink about any standing order for material from such suppliers and also press a pause on any auto replenishing algorithms. <\/span><\/p>\n<p><span style=\"font-size: 14pt;\">You can ask your <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"\/ecommerce\/\">Ecommerce development company<\/a><\/span> to reset such algorithms until you know more. This will help you to push back any future payments and help you manage your finances better.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Identify_Alternate_Revenue_Streams\"><\/span><span style=\"font-size: 16pt; color: #003366;\"><strong>Identify Alternate Revenue Streams<\/strong>:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-size: 14pt;\">The covid-19 pandemic has affected various ecommerce brands, but instead of simply sitting and watching, you can identify all your alternate revenue channels so that your business doesn\u2019t see the slowdown and also supports the community in various means during tough times. You can expand your business in different areas where you see low or medium levels of disruptions. <\/span><\/p>\n<p><span style=\"font-size: 14pt;\">Once the situation improves, you can easily capture a big market and expand your sales to those locations.<\/span><\/p>\n<blockquote>\n<p style=\"box-shadow: 0 0 16px #cccccc; padding: 10px;\"><span style=\"font-size: 14pt;\"><span style=\"color: #003366;\"><strong>Also Read: <\/strong><a href=\"\/blog\/what-to-consider-before-creating-a-perfect-newsletter-for-your-magento-store\"><span style=\"color: #ff0000;\">What to Consider Before Creating a Perfect Newsletter for Your Magento Store<\/span><\/a><\/span><\/span><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>With the nationwide lockdown in India, businesses all over the country is getting affected a lot including online ecommerce. The temporary shutdown of manufacturing facilities, overstocked supplier inventories, disruptions in logistics, conservative consumer spending and etc. is causing a huge&#8230;<\/p>\n","protected":false},"author":1,"featured_media":4611,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[171],"tags":[272,759],"class_list":["post-4602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ecommerce-website-development","tag-ecommerce-development","tag-ecommerce-development-company"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/posts\/4602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/comments?post=4602"}],"version-history":[{"count":8,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/posts\/4602\/revisions"}],"predecessor-version":[{"id":11348,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/posts\/4602\/revisions\/11348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/media\/4611"}],"wp:attachment":[{"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/media?parent=4602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/categories?post=4602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/tags?post=4602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}