Strategic Activities are Encouraging E-Commerce Companies for Business Expansion
People living in the cities now choose to order almost everything from online shopping platforms. Though COVID-19 becomes a reason to shop online, as it helps in maintaining social distance, increase in online stores and discounts offered by them is also a reason for a boost in E-commerce sales. These rising demands are encouraging companies to perform strategic activities for the expansion of their e-commerce business.
A few ways in which companies can have their presence and visibility online include:
Online selling is time saving and it not only improves sales & revenues but also enhances the efficiencies of the company. After observing these benefits, now retailers or manufacturers are collaborating with the online stores to sell their product. For instance, last week, Driven Deliveries, Inc., California’s online cannabis retailer and direct-to-consumer delivery company, announced that it has executed an agreement with Stem Holdings, Inc., a vertically-integrated cannabis and hemp branded products company, processing, extraction, retail, and distribution operations throughout the United States, to collaborate on e-commerce and distribution.
Adam Berk, CEO of Stem Holdings said, “The growth in consumer demand for delivery is evident across all product sectors, and particularly in cannabis as our medical consumers in California need to have their orders filled quickly and accurately”.
Investments and Partnerships to Enter in the Business
Looking at the exponential growth of e-commerce market in the past few years, many tech companies are investing in the business. Some companies are partnering to enter in the business by launching e-commerce platform.
In April, Facebook, Inc. announced the signing of binding agreements for an investment of ₹ 43,574 crore (US$ 5,720 million) by Facebook into India’s Jio Platforms, a division of Reliance Industries Limited. Concurrent with the investment, Reliance Retail Limited, Jio Platforms, and WhatsApp have entered into a commercial partnership agreement to accelerate Reliance Retail’s New Commerce venture on the JioMart platform using WhatsApp. As Amazon and Flipkart are hugely used by the Indian people, last month, JioMart was launched to enter into the vast Indian market to make its mark.
Adapting with the “New Normal” Caused by COVID-19 Pandemic
In the COVID-19 pandemic, online delivery companies are not supposed to work the way they used to before the crisis. Now, it has become essential for these companies to ensure the customers’ as well as employees’ safety.
Recently, NatureBox, the resource for healthy consumer and corporate snacks, announced its new approach to corporate snacking: Corporate Snacking 3.0. This is an automated solution that delivers personalized corporate snack boxes directly to employees at home or the office. Company claims that this services delivers snacking perks to employees following the newly released COVID-19 Employer Information of Office Building guidelines by CDC.
In the statement, John Occhipinti, CEO of NatureBox said, “At NatureBox we are leveraging our years of e-commerce and direct to consumer snack delivery. There is no reason companies cannot continue to offer great snack perks in the time of COVID. Snacks provide some nourishment during the workday but, help reduce burnout, most importantly, boost morale and retention”.
After analyzing the trends in the market, analysts suggest that even if the in-store shopping will stay forever, grocers must start to implement e-commerce solutions in coming months to capture market share, as many consumers will opt to shop online for few months after the COVID-19 crisis.
Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.