Are we sure that the lesson should be learned from Covid-19 is to invest more in e-commerce?
Are
we sure that the lesson should be learned from Covid-19 is to invest more in e-commerce?
It is possible to roughly separate the sales channels of companies operating in the consumer goods sector as export, domestic sales and online sales. Coronavirus has damaged physical sales channels(export and domestic sales). While some companies are considering to terminate their physical sales channels completely, most of them, including small enterprises have started to invest more in e-commerce. For me coronavirus tells us the opposite. It is wrong to transfer resources from several channels to a single channel. Is it not imaginable for the future to face crises when the internet will become dysfunctional, just like today’s streets and malls.
“Don’t Put All Your Eggs in One Basket”, Covid-19 says.
I heard this idiomfor the first time from my international relations professor while he wasexplaining a national security thesis after the 2015 Russian-Turkey crisis. He stated that a possible abandoning Russian gas supply would threaten Turkey as a national security problem because Russia supply 57% of Turkish gas demand. He also saw this crisis as an opportunity for Turkey to diversify its energy supplier.
When many companies
go bankrupt and close down or downsize, this thesis also fits for companies.
Especially in recent years, Production in Turkish lira and selling in foreign
currency has been seen as the most profitable sales channel for many Turkish
companies. Like the others, exportation has always been our priority for our
company's sales policy rather than the domestic wholesale, retailing and online
sales. As an unfortunate coincidence, the economic target list of coronavirus
has the same sort order. It has inflicted a heavy blow on international
companies as we see.
The lesson companies should take from Covid-19 is, regardless of the rate, to keep all sales channels open and active, and increase and decrease their importance level by the circumstances and the market conditions. When an unexpected situation occurs for international sales, they should be able to transfer its sources to domestic sales channels without terminating export operation. Same thing applies for a potential internet shut down. How many online retailers are ready for an e-coronavirus?
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