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Although inflation has a significant negative impact on the overall economic sector, this time we will focus on discussing strategies to mitigate its negative impact on our online businesses. Price uncertainty often makes it difficult for entrepreneurs to make proper financial plans, leading to decreased sales volume, and so on. As entrepreneurs, of course, we cannot simply surrender or wait for the inflation storm to subside. Therefore, entrepreneurs must immediately develop strategies, be proactive, and flexible so that their businesses can survive and generate profits, as follows:
1. Determine product/service prices wisely and continue to attract customers.
2. Increase cost efficiency.
3. Diversify products.
4. Increase customer loyalty and marketing strategies.
5. Utilize apps to monitor business finances.
1. Determine product/service prices wisely and continue to attract customers.
2. Increase cost efficiency.
3. Diversify products.
4. Increase customer loyalty and marketing strategies.
5. Utilize apps to monitor business finances.