It is undeniable how COVID-19 shaped our daily lives and habits. Likewise, our buying behaviour has also changed. Window shopping used to be a part of our shopping therapy session, especially during lunch hours or even after work hours. During the Circuit Breaker (from 7 April to 1 June), we were mostly at home and were advised to limit our movements. Shops and facilities were closed, and gatherings were restricted. Many turned to eCommerce platforms and online retailers for alternatives. Even as restrictions ease, for better or worse, these digital platforms will still be a large part of the “new normal.”
We have also seen a surge in businesses going online the past few months, ranging from bubble tea shops to departmental stores via various digital platforms. Many businesses have reaped the benefits as consumers are more receptive to online purchases.
If you are still contemplating going online with your product listing, you are not too late to begin now. There are several options for selling your products. You can either go for an established eCommerce marketplace or develop your own online store. Read on to learn more about doing business online via eCommerce marketplace or your own online store.
It is an online marketplace that facilitates the flow of products and services, as well as interactions between sellers and buyers. The most popular eCommerce sites are Shopee, Lazada, Qoo10, Amazon and EZBuy. You can create a seller account and start selling your products after completing registration and verification. Most of these eCommerce marketplaces introduced a transaction fee on successful orders. While it gives you a wide exposure to their shoppers base, you might face tight competition with other retailers offering a similar product listing. Some of the advantages of selling products via eCommerce Marketplace are as the following:
– Convenience and Hassle-free Product Listing
– Supported Logistics and Shipment
– Service & Support
– Payment & Refund
You can monitor competitors’ performances and use them as references to improve your strategy.
Your Own Online Store
Setting up your online store can sound intimidating but it is an equally easy process. You can either create it on your own or seek professional service. There may be drawbacks such as high setup cost, logistics and shipment management at the initial stages. But in the long run, you will gain more control and flexibility with how you want to run your business. Some of the advantages of running your online store are as the following:
– Build up your brand name
– Control over your business operations
– Personalize promotion campaigns
– Earn your own loyal client base
Create your own unique voice and stand out amidst the competition. This helpful guide will give you a glimpse into creating your online store.
Going and embracing digitalization is the way to move forward. Digital connectivity is recognized for leading us to do new things and connecting with others effectively in many ways. One of such cases is a non-profit delivery platform. It was an initiative by a project director together with 11 others helping hawkers and less tech-savvy hawkers. This initiative allows small food and beverages stall owners to sell items as per normal while volunteers manage the online orders and delivery arrangements. On a national level, government agencies developed campaigns and schemes to help companies, especially the smaller ones, to kickstart their digital journey or enhance the technologies they already have.
Likewise, Exabytes had launched COVID-19 Relief Solutions for small and medium enterprises (SMEs) to sustain and grow your business during this trying period. We strive to help traditional business owners to gain digital presence as well as helping business owners with existing online presence to grow their online businesses.
Speak to us via our Live Chat. Let us help you and to grow further with your business.