A pandemic that was never seen and ever imagine would take the world at storm, Its high time to discuss more about the opportunies for eCommerce companies during covid19. How the companies needs to rethink their policies espicially on digital platforms?
After the commencement of pandemic covid19 the situation has become worst everywhere in the world, It has spread in more than 190 countries and affected more than 4.6 million people with nearly 3.5 lakh deaths.
Meanwhile, the governments are a bit helpless because of no vaccine till now the only solution they have is to shut down the public places to avoid physical contact and social distancing.
Impact of Coronavirus on eCommerce Industry
As we all understand that lockdown is the need of the hour to distract people with large congregations to avoid the spread
When every industrial sector is suffering badly and few are on the verge of bankruptcy, Still there is a scope for E-commerce companies. Though most of us are at home does not mean our basic requirements that come under microeconomics going to fall
This is the time every E-commerce company needs to encash and get the most out of it by thinking about the welfare of the society first then the margin they get.
There is a window opens for E-commerce companies to deliver products and services at the doorstep that helps to restrict the spread, a large population of the country is either working from home or staying at home 24/7, Providing them the necessities and essentials should be the primary focus of E-commerce companies.
Credits: CNBC International TV
What should be the objectives of E-commerce companies?
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Should precisely emphasize on daily usage products: Maximum attention of every e-commerce company is to delivery all the daily usage products like Groceries, dairy products, medicines, etc
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Starting allowing new employees working from home:
Handling big e-commerce companies needs a lot of manpower in every department, least a company can do is to empower youths to WFH concept, hire them for maximum processes from Customer care representative either for chat or voice process to promote their product and services through hiring Digital Marketers that may result in getting more sales to the higher-level management
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Think for sales, not for margin:
Its high time for every company to do not think about the profit, Can sell products at par or with fewer benefits By adding some humanitarian work It may benefit the companies to flourish in the future with the help of long term loyal customers to their account
Relief by the Central government after lockdown: 4.0
After giving the permit to sell essential products online, The government has given permissions to sell all essentials and non-essential products online in all Zones (green, orange, red) in the latest guidelines
Hence, it persuaded the opportunies for eCommerce during covid19, More buyers to come online and buy products and services that is resulting in the shortage of employees, There are speculations that they may hire more employees who work from home to ease the workload.
Biggest brands may initiate an online presence
By seeing the current scenario companies which are not very active on e-taling may invest a huge amount in e business
We may see the biggest giants re-design their applications, switching to ecommerce websites via different mediums like shopify and wordpress, both are very popular for creating an online stores that provide maximum value and best service to the customers
Leading retailers such as Reliance Retail Lifestyle, Levi Strauss, Madura Fashion and Lifestyle, Arvind Fashions, Vijay Sales and Great Eastern Retail said they are going to expand their ventures on ecommerce platforms.
What will a common person get?
Whatever the relaxation given by the government to e-commerce company may lead to provide more product and services to us
Entering existing and new companies on the online platform would create a competitive environment that results in a falling down of prices with high-quality products and services.
Views of few business tycoons
MD of Arvind fashion who runs multiple brands like US Polo Assn, Sephora, Calvin Klein, and Tommy Hilfiger said “With e-commerce least, we have some opening now which is one positive step, our full focus will now be scaling up our digital presence and app”
Departmental store Lifestyle International MD Vasanth Kumar said with the government permitting e-commerce operations, it is an opportunity to drive omnichannel adoption. He said the retailer has a “robust plan” in place
Industry body Retailers Association of India CEO Kumar Rajagopalan said “it has reached out to the government to include home delivery and not just e-commerce so that the small and medium retailers can deliver to the home. He said the large chains are already on e-commerce.
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