KUALA LUMPUR, June 4 – The Covid-19 pandemic has transformed the world of retail, posing many challenges for the e-commerce industry.
QI Group of Companies Founder and Executive Chairman Datuk Seri Vijay Eswaran said online retailers, supply chains and order management are all put to the test by the triple-digit rise in orders and income growth.
“By now, companies should have started to focus their efforts on making the most of the current situation.
“Some analysts believe that with more people staying at home, it could stimulate the growth of e-commerce in general in the medium term,” he told Traxxfm and Bernama.
He said that, as consumers would depend heavily on e-commerce after Covid-19, digital adoption would help businesses balance risk by bringing them closer to customers, meeting their needs while maintaining the required social distancing.
Vijay said stay-at-home orders would eventually be lifted, but, in the meantime, millions of consumers are creating and reinforcing new online shopping behaviors and habits, adding that many are reluctant to revert to their old shopping habits. purchase for fear of getting sick.
He noted that today’s consumers are more motivated to stay home and shop online, creating the ideal market conditions for businesses to speed up, test and launch new mobile apps, sites and touchpoints based. about the experience on their platform.
“How they choose to respond will define the future of e-commerce. Many choose to remove the frictions that prevent turning occasional customers into their most loyal customers, ”he said.
Vijay also stressed that entrepreneurs must be creative to secure the future of their business, serve their customers and preserve the integrity of supply chains; because buyers have changed their priorities in terms of what they buy and what they store.
“I have noticed that large companies differentiate themselves from their competitors based on the experience they provide to their customers.
“The experiences are uniquely perceived and span from back office areas such as production and supply chain to front office experiences made possible by marketing, sales, e-commerce and service. client, ”Vijay said.
Meanwhile, thanks to advancements in technology, the option of working from home has been made possible for jobs in various industries through the use of digital tools.
Vijay predicts that staggered work schedules would be put in place, where employees do not all arrive and leave at the same time.
“I consider these staggered working hours to be not only effective in reducing traffic jams, but also practical in curbing the spread of the coronavirus in public transport during rush hour,” he said.
Vijay said people shouldn’t fall into a fear-induced frenzy and that in times of crisis it’s important to separate fact from fiction.
“An ‘infodemic’ of misleading information and fake news is spreading faster than the Covid-19 epidemic.
“It’s up to us to fight disinformation by relying on reliable sources,” he said.
QI Group of Companies is a multinational conglomerate with interests in direct sales, real estate, education, retail and hospitality. – Bernama
* A previous version of this story had errors which have since been rectified.