Author: Lisa Douglas-Paul
Pandemic Profit Proportions
Before 2019, local businesses were making commesse with e-commerce. Online shopping was catching on quickly among local consumers, with many transitioning to online shopping- the realm of no return. Fast-forward to 2021, e-commerce is now the life-raft that so many businesses cling to for survival. So what changed? Two words: pandemic pandemonium.
In the backdrop of what appeared to be a mass toilet paper purchasing post-apocalyptic frenzy lay a much graver fate. Businesses underwent wetting after wetting with a wash of pandemic protocols forcing the closure of operations for indefinite periods. With no time to stick, businesses went online.
UNCTAD estimated that e-commerce sales hit 26.1 trillion dollars in 2018 and that COVID-19 increased online retail sales’ share of total retail sales from 16% to 19% in 2020. So why did it take businesses a near cataclysmic global event to get on board with e-commerce? Well, cuz we too harden!
Doh Stick Dis Time
Moving from 9-5 to 24-7 – Once your online platform is set up , you don’t have to stand up behind a counter fighting sleep until each customer comes in with their million and one questions. Your online market space does most of the heavy-lifting for you.
Reduced overheads– Costs related to rent, full-time staff, and utilities, all with the right planning, can be reduced without affecting your revenue streams. The digitization of interactions with your clients can bring in those coppers without you having to breaking a sweat.
Taking your market from local to global – Increase your outreach from a fraction of 1.3 million. 7.7 billion people (I mean…’nuff said).
A Little Pain, Plenty Gain
Everything isn’t always sunshine and rainbows. There will be initial investments in getting your online presence in a gear; choosing the payment option that best suits you and of course there is a learning curve for us less tech-savvy business folk. But guess what? Once the lil’ growing pains ease up, yuh good to go! The only question left is whether yuh waist could handle de pace.
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