Yet, there is a silver lining that brought in a ray of optimism as the country unlocked slowly. Indian consumers pivoted their purchase patterns preferring local small businesses, independent stores and local restaurants, which need their patronage.
Vocal for Local
Customer awareness and the intent to support the local community is a key factor in bringing in footfalls. The thought process was reinforced by Prime Minister Narendra Modi in his address soon after the lockdown was announced. "In times of crisis, this local (system) has fulfilled our demand, and saved us. Local is not just the need, it is our responsibility as well," he said in his speech.
Shop Small with
AmEx which has had a history of supporting small businesses launched a unique campaign $4 to provide an incentive for customers to spend. This, in turn, becomes a stimulus for the merchants. As per the campaign, customers who spend Rs 1,000 at the stores will receive a Rs 500 cashback. This benefit can be availed up to three times during the offer period which is valid till December 31, 2020.
The campaign covers small and medium sized merchants across Delhi, Mumbai and Bangalore covering retail shops, healthcare services, restaurants and hotels.
One such store to gain from the campaign is the famous Sapna Book Store at the Majestic area in Bangaluru.
Another one in Mumbai is Le15 Patisserie, which is owned by India’s Macaron Queen Pooja Dhingra. It had shuttered down for a few months and had to close their cafe as well. Now, with ShopSmall Amex Cardmembers can savour their favorite cupcakes and macarons and also receive a cashback.
The new normal
The stores too are playing their part in dispelling fear. As per the AmEx survey, 45% of small businesses started accepting new methods of payments like contactless payment channels; 43% educated/trained self/staff on maintaining safety in the stores; 37% increased efforts to advertise on social media and a whopping 34% started new methods of delivery like contactless delivery.
The credit card giant too has been working towards supporting small businesses for a long time now and has globally committed to invest around $200 million across this ecosystem. In its first year in India, Shop Small campaign has been launched for small businesses across Delhi NCR, Mumbai and Bengaluru, with an assortment of merchants across retail, dining, healthcare and services.
Disclaimer: This is a sponsored post in partnership with American Express India.