How should companies approach collections during this unprecedented holiday season?

This holiday season will be like no other. According to an economic recovery report published by the Conference Board of Canada, the first wave of COVID-19 lowered employment levels exponentially. The GDP forecast is set to shrink 6.6% by the end of 2020, which does not include any damage the second wave we are currently in may cause.
 
With the second wave of the pandemic in full swing and the financial crisis ongoing as a result, how can companies approach collections during this holiday season in an understanding and empathic manner?
 
Discussion themes:

1. What types of collection strategies should be adhered to?
2. How should companies communicate with their past-due customers?
3. How do companies approach past-due payments?