{"id":3399,"date":"2020-04-16T16:12:14","date_gmt":"2020-04-16T14:12:14","guid":{"rendered":"https:\/\/homepage.rs\/?p=3399"},"modified":"2024-02-26T13:48:02","modified_gmt":"2024-02-26T11:48:02","slug":"how-can-a-website-help-you-overcome-the-crisis","status":"publish","type":"post","link":"https:\/\/homepage.rs\/en\/blog-en\/how-can-a-website-help-you-overcome-the-crisis\/","title":{"rendered":"How can a Website help you overcome the Crisis?"},"content":{"rendered":"

The crisis has struck us, and it\u2019s still underway. We don\u2019t know when it will be over, and it brought forward many things we weren\u2019t prepared for. Nobody could predict this kind of scenario. Effects range from loss of human life, movement restrictions, production decline, and uncertainty, to guessing what awaits us in the aftermath of the crisis.<\/span><\/p>\n

Apart from the human tragedy, the implications for businesses are severe. The shares around the globe took a massive blow, with some stock markets, either closing or recording their worst days in decades. Just take the example of <\/span>Dow Jones Industrial Average<\/span><\/a>, FTSE, and Nikkei. They all suffered sharp falls since the outbreak began in China last year, with Dow Jones dropping almost 3,000 points. All in all, global stocks have suffered a downturn of around 25% during what is now called the 2020 Stock Market Crash.\u00a0<\/span><\/p>\n

Many experts, including the <\/span>Chairman of Federal Reserves<\/span><\/a>, predict another period of recession, which will curb economic growth and market demand. Goldman Sachs warned <\/span>US GDP might shrink by 24%<\/span><\/a> in the next quarter of 2020. If the prediction materializes, it would be a drop 2.5 bigger than any other drop in the history of the country. Europe\u2019s annual GDP growth, on the other hand, could decline by 5.6%. This is all seriously bad news for entrepreneurs and investors across industry sectors.\u00a0\u00a0\u00a0<\/span><\/p>\n

The winds of economic change and government response\u00a0<\/span><\/h2>\n

One thing is for sure\u2014 <\/span>nothing will be the same as it was before the crisis<\/b>. We\u2019re bound to operate in a different market, economy, and industry landscape, with diverse consumers as well. I\u2019m not using the word \u201cworse\u201d deliberately. Namely, it\u2019s not a foregone conclusion that the worsening of the business climate will be the only consequence of the crisis. Some industry sectors are enduring strong hits, while others pursue new growth and expansion opportunities. To be direct, everything will be significantly different from this point on.\u00a0<\/span><\/p>\n

And we already see many signs of this change. Central banks in countries like the UK and the US have reacted by cutting interest rates almost to zero (0.10% and 0.25% respectively). Such measures are expected to lessen the negative impact of the pandemic and stimulate economic activity. To be more precise, this decisive response is poised to encourage borrowing and reinforce spending habits, enabling businesses to sustain revenue streams.\u00a0<\/span><\/p>\n

Moreover, the US Senate has pumped $2 trillion into the economy by passing a historic aid bill. There\u2019s little doubt many companies will go under, but at least some of them should get a new lease of life thanks to government measures. As for e-commerce, pharmaceutical, logistics\/delivery, entertainment streaming, and similar businesses, they have little to worry<\/span><\/p>\n

about. In fact, they are among <\/span>the main winners<\/span><\/a> profiting from increased demand for their products and services. HeloFresh delivery firm shares surged by 14.2% due to the expected revenue boost, which could amount to <\/span>whooping 69%.<\/span><\/a> Walmart has increased worker wages to welcome a spike in consumer demand. Sales of household supplies <\/span>have quadruped<\/span><\/a> for the Chinese e-commerce goliath JD.com.\u00a0<\/span><\/p>\n

A look back: revisiting old business lessons\u00a0<\/span><\/h2>\n

Ten years ago, I started working in a commerce company. The main target audience segments were the handyman, electricians, and plumbers. My role was to develop an online store, where they could order all the material they required for their work. Back at the time, e-commerce was in its infancy, and even businesses that we typically associate with this sector nowadays didn\u2019t have online shops set up.\u00a0<\/span><\/p>\n

In order to see our plan through, we had to overcome particular challenges, the chief one being prompting handymen to order everything they need online. These are the people who traditionally-speaking, get their tools and materials at brick-and-mortar stores and depots they are so used to visiting. The path to our ultimate goal wasn\u2019t simple; we\u2019re talking about the year 2009, after all. E-commerce was only gaining initial traction, and online shopping volume was meager.\u00a0<\/span><\/p>\n

After a few months, the regular orders came in, mainly due to our competitive prices offering. We didn\u2019t have any labor, storage space, or business premises-related costs. In a matter of a year, we gained a steady influx of customers. The motivation behind online shopping was clear. In terms of prices, we were competitive, and later on, it turned out that free delivery to home address was one of the key factors driving orders.\u00a0<\/span><\/p>\n

To be clear, these were some bulky goods, so proper vehicles and workers for its transportation and handling were required. One of the situations I like to restate was when one handyman ordered a truck full of electric and plumbing equipment to the address of a property that he was working on. When we delivered everything, the man was utterly delighted because he didn\u2019t have to worry about the logistics and transportation of goods to the site. He only brought his tools with him, and he was good to go right away.\u00a0<\/span><\/p>\n

Did you think about offering your products and services online? Well, in case you need support to pull this tactic off, <\/span>contact us<\/span><\/a><\/span>.\u00a0\u00a0<\/span><\/h1>\n

Internet as our saving grace\u00a0<\/span><\/h2>\n

In times of crisis, the internet is one of the rare places where growth occurs.\u00a0<\/span><\/p>\n

Everyone in a position to adapt quickly has already done it or started deploying business solutions. This isn\u2019t just an opportunity for those with big supply chains, but people who own small businesses\u2014 bakeries, flower shops, restaurants, fast-food venues, convenience stores, etc. They all try their best to save their companies and jobs and see the internet as salvation.\u00a0<\/span><\/p>\n

It\u2019s evident to me that in the past few weeks, there has never been a more significant number of banners with the message \u201cbuy online\u201d, \u201cdeliver to home address\u201d, \u201c buy online safely\u201d. Movement restrictions and the fear of the virus that is still raging have forced consumers to seek alternative avenues to products and services they need.\u00a0<\/span><\/p>\n

Online is that avenue, which more and more consumers choose, so everyone in the business world that is able should meet them there. Notice I didn\u2019t say this is \u201cthe new\u201d way, and that\u2019s because it has been around for years. Nevertheless, for many consumers, it wasn\u2019t as visible and essential as it is now.\u00a0\u00a0<\/span><\/p>\n

What we\u2019re witnessing in Serbia and the world at large is the process of market education. Many people are walking the \u201conline path\u201d. From the standpoint of a business owner, it\u2019s necessary to recognize the needs of customers and adjust the supply accordingly, taking it online at the same time. <\/span>In terms of selling goods<\/b>, this isn\u2019t an overly big challenge, considering that e-commerce isn\u2019t a complex phenomenon in Serbia.\u00a0<\/span><\/p>\n

Not only that, but the sector is undergoing massive growth these days. There are a lot of ready-made solutions on the market, which can be tailored to the needs of most clients. If these needs are specific and call for advanced and particular functionalities (such as warehouse or SAP integration), then the best choice is a custom made solution that is entirely in line with the client demands.\u00a0<\/span><\/p>\n