Creation of your online businesses and reduction of product portfolio, among post COVID-19 business strategies

The creation of online channels is the strategy that companies will apply the most after the COVID-19 pandemic .

Creation of your online businesses and reduction of product portfolio, among post COVID-19 business strategies

This is reflected in the results of a study carried out by the Electronic Commerce Observatory of the University of Specialties Espiritu Santo (UEES) , led by the Ecuadorian Chamber of Electronic Commerce (CECE) ; and with the support of Banco del Pacifico.

Leonardo Ottati, president of the CECE , indicated that the study was a necessity to know what the consumer was feeling and buying in the forties and post forty; and also measure the acceleration in the adoption of electronic channels by companies.

“We see many changes that definitely those who have to understand the most are the companies, which are the ones that have to change the most to serve these new consumers,” said Ottati.

The analysis, which was carried out through online surveys of 1,225 consumers and 126 companies nationwide at the end of last May, showed that 40% of the companies surveyed will create their e-commerce, while 20% will switch to essential products and they will reduce their portfolios; the 8% allocate more resources to digital advertising and 14% remaining apply other changes.

Silvana Dakduk, a visiting researcher at the UEES Electronic Commerce Observatory , highlighted that 64% of the companies surveyed project that consumers will buy less after the pandemic.

However, from the point of view of consumers, the study shows that 40% of respondents believe that they will increase their online purchases. Regarding behavior during the emergency, the expert revealed that 49% of purchases were made through WhatsApp, Apps (44%) and websites (35%) . and that the categories that grew the most were: food and non-alcoholic beverages, health and medicine, and prepared food .

He added that 13 out of every 100 consumers surveyed indicated that they started shopping online for COVID-19. In total, 54% indicated having increased their purchases through this channel, 24% which is the same and 22% that decreased.

Regarding the forms of payments, it was evidenced with credit cards (32%), debit cards (29%), cash (29%), transfers (8%), and others (2%)

In this regard, Dakduk indicated that the increase in Ecommerce is a process that is on the rise, although he pointed out that the growth of this segment in recent months was due to external factors, that is, the pandemic.

“As the size of the company decreases, the time and resources that that company must generate for digital adoption increases. There is an acceleration in the demand for the digital channel (…) which in most cases is the only option for stay operational, “said the researcher.

Meanwhile, Elías Ronquillo, national manager of Payment Methods for Banco del Pacífico , described meeting and understanding the new dynamic as a challenge, although he assured that in this way the bank ratifies the process of transforming the ecosystem of its e-commerce channels that has been running for just over 10 years

A sample, according to Ronquillo, of the accelerated growth of this segment, is that of the volume of affiliations through electronic channels, 50% were made this year.

While, with respect to the billing at the Ecommerce level, from January to May, there is a double-digit growth, assured the manager, versus the physical world that due to isolation had a decrease of around 40%.

https://www.eluniverso.com/noticias/2020/06/18/nota/7876944/creacion-negocios-online-reduccion-portafolio-productos-estrategias