STUDENT ENTREPRENEUR PROJECTS

Fall 2020 Projects

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Overview

ZIPCODE: 10468

Veronica interviewed several fashion apparel businesses to analyze how COVID has affected their business and how they have navigated their way financially through the pandemic. Her research question was centered around the specific techniques and strategies used to stay afloat during the pandemic. She noted how methods of marketing merchandise influenced business owners' approaches to the pandemic and their demeanor towards customers. Beyond strategies dealing with times of unprecedented crises, Veronica discovers how the businesses' organizational structure has shaped their accessibility to customers, affecting their likelihood of business success.

Methods

To explore strategies used by businesses in the zip-code 10468, Veronica surveyed three different companies. She interviewed owner/managers from Rainbow and Denise clothing stores and a smaller boutique to gain perspective about how both franchise businesses and small businesses are coping. Due to time constraints, she asked four main questions during interviews. 1) How did you adapt during the pandemic? 2) Are you selling clothing online? 3) What practices did your business change during the pandemic? 4) Are you concerned about losing local customers?

Findings 

She found that clothing businesses used a variety of techniques to stay open during the pandemic. For example, one business owner recounted how they had to take out a Paycheck Protection Program loan in order to cover the salaries of employees. A manager from Denise also told Veronica how he was very grateful that his landlord was understanding. Additionally, she found that businesses that had an online presence seemed to fare better than those without any online advertising and/or merchandising.