The Dawn of Commerce– A Wake-up Call for Vendors to Go Online
The recent sinkhole event at Jalan Masjid India in Malaysia has left vendors devastated, with many reporting a 50-70% decline in revenue as foot traffic plummets. This devastating event, caused by underground water pipes bursting, has affected the livelihood of many traders in the area, showing just how vulnerable physical businesses can be to sudden, unforeseen events. In today’s unpredictable environment, from natural disasters to economic shifts, it’s clearer than ever that vendors need to diversify their selling channels – especially by moving online.
This sinkhole incident serves as a wake-up call for vendors to rethink their business strategy. With e-commerce on the rise, especially post-pandemic, many traders are now considering online platforms as a way to protect their sales and ensure business continuity.
E-Commerce as a Lifeline for Businesses?
The COVID-19 pandemic already showed how quickly businesses can be disrupted by factors outside of their control. Now, with the Jalan Masjid India sinkhole, traders are once again reminded of how dependent their income can be on physical locations. The aftermath of this incident has prompted many vendors to explore e-commerce platforms as an alternative, realizing that a digital presence could safeguard their sales against future unforeseeable disruptions. E-commerce could ultimately serve as sellers' last line of defense to protect themselves from such circumstances that surround physical stores.?
Going online also allows businesses to reach a broader customer base, not just those who walk past their shop. With more people preferring the convenience of online shopping, especially in Southeast Asia, it is a good idea for vendors to consider building their presence on digital platforms to maintain or even increase their revenue streams. The flexibility of online sales also means that they can operate regardless of physical constraints or local issues like road closures, weather problems, or infrastructure failures that significantly affect day-to-day business.
E-Commerce ‘Sinkholes’
As more traders turn to e-commerce, it’s important to avoid some of the common mistakes that can hinder success:
Many vendors think that simply being online is enough to generate sales. However, the reality is that online visibility requires effort. Without proper marketing, whether it is through social media, paid ads, or influencer collaborations, customers may find it difficult to find your store.?
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New online sellers often overlook the logistics aspect, such as delivery options, shipping fees, and return policies. Consumers nowadays tend to be more conscious of their spendings, thus offering convenient and affordable delivery options can be a deciding factor that will make or break an online business.
Unlike physical shops where you can build rapport in person, customer service online is different but just as important. The ability to respond to customer inquiries promptly and ensure smooth communication is key to building trust with your customers.
Shopee, Lazada, and TikTok Shop: Which is best for you?
If you are planning to take your business online, choosing the right platform is crucial. Here’s a breakdown of three rising e-commerce platforms in Southeast Asia, along with their pros and cons:
The sinkhole incident serves as a stark reminder of how vulnerable physical businesses can be to unforeseen events. Moving online offers vendors an alternative to safeguard against disruptions while at the same time allows reaching a broader audience, but it’s essential to approach e-commerce strategically. By avoiding common mistakes and selecting the right platforms – whether it’s Shopee for its reach, Lazada for its logistics, or TikTok Shop for its viral potential – vendors can set themselves up for success in the evolving e-commerce landscape.