It’s a brave new world.
Despite all the challenges, frustrations, and downright panic that Covid19 has brought to the world’s economies, there’s always a way through the convoluted maze of negativity that lockdown has visited upon the unsuspecting eCommerce sector.
At face value businesses operating in the ether are better placed than their down-to-earth counterparts to survive the onslaught. Unhampered by bricks-and-mortar cost bases and clunky operational setups, the lean and mean cloud-based business can allow itself a degree of smugness as it watches the High Street writhe and wriggle in the face of government-mandated closures and lockdowns.
However, that’s not the whole story. As those High Street businesses look skyward for their salvation and seek to futureproof their livelihoods by entering the online space, that smugness could well turn to misery when the hyped up and ramped up competition come a-calling. Forbes tells us that already the eCommerce sector has expanded 68% since lockdown began. That’s an awful lot of highly motivated eSellers cramming themselves into the arena and fighting for breath.
What’s more, these new High Street entrants are battle-hardened business folk who have baked-in business survival skills. They understand their financials in a way that eCommerce operations often don’t. They’re practiced in and attentive to closely watching their profits and their losses in a way that few eCommerce players are … and that spells competitive trouble for eSellers who take a laissez-faire approach to their finances.
A word from the author:
Our software Profitizer, is an app that makes it easier for eSellers to understand their marketplace profit & loss data from the top of their business right through to individual or grouped product profitability. For Amazon, eBay, Etsy and other marketplace sellers, Profitizer is “Profit and loss, made simple”.
Find out more: https://www.profitizer.app
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