If there had been a warning that something as serious pandemic would have happened, all business owners may have prepared themselves. There’s no doubt that a lot of businesses were affected by the situation. Most of the time businesses’ concerns were employees code of conduct, punctuality at work and things that right now seem worthless.
Despite all that happened during the covid-19 pandemic, the Australia E-commerce revolution saved many businesses. In this article, we’ll be discussing how the country managed to overcome this seemingly difficult challenge.
Impact of E-commerce on Businesses
· It Enabled Small Businesses to Survive
Apart from the health issues that arrived as a result of the covid-19 pandemic, the global economy was also affected. Most government authorities had no choice but to instruct their citizens to “stay safe” at home, including in Australia. By this, the country’s both small and large businesses closed down. But the ones that suffer the most were the ones without ecommerces, take out or delivery options depending in which field they operated.
After almost three decades of boom, Australia went through its first recession with a 7% fall in Gross Domestic Product (GDP).
Almost all sectors in the economy were affected because of the pandemic and all the unforeseeable circumstances. Food services, recreation centers, transportation, accommodation, education, to name a few, were all affected. Nothing was left out apart from essential jobs.
Generally, all businesses suffered a loss except the e-commerce sector. Most small businesses had to embrace an online marketplace by creating a website, social media platforms and other online channels. Without taking this crucial step, a lot of small business owners would have been in huge debt right now. Many small businesses unfortunately did not survive.
· Provided Employment Opportunities
In Australia, there was a massive reduction in the number of employees as a result of Covid-19. Although many citizens did not catch the virus at all, a lot of resources went down the drain. With this development, most people became wise with their spending. However, those who were working online and in the e-commerce sector were more advantaged in this critical situation.
Most people who lost their jobs had to turn towards e-commerce by creating a website, and improving their online presence. Major survival measures came from the e-commerce sector thereby providing not only jobs but enough money for Australian citizens.
· Easy Purchase of Goods and Services
Fortunately, there has been a drastic change in the way people get their goods and services. Before the coronavirus pandemic, most purchases were done physically. Now the majority of citizens prefer to shop online from popular online marketplaces such as eBay, Amazon, Payday Deals.
To some extent, it makes sense because a lot of shop/store owners have closed down their businesses. Besides, it was safer to shop online to prevent contracting the virus at the physical marketplaces. Furthermore, moving from one location to another can be stressful when there are people who can offer goods and services for a small fee delivery.
Why Did Some Businesses Succeed During the Pandemic?
Humans always adapt to various unpleasant situations. A lot of businesses looked for solutions to their problems because they were determined to succeed.
Here are the few things they did differently:
- Embraced digital technology
- Improved their online presence
- Allowed their staff to work from home
- Looked for new ways to provide goods and services
- Re-trained their staff
Despite the Covid-19 challenges, Australia’s e-commerce revolution helped businesses to survive. There’s a high chance that other challenges in the future will not affect the businesses of those who invest in e-commerce.