COVID-19 has changed the consumer behaviour from offline to online, and the trend will persist.
Let’s look at the following charts together:
What does it mean? Ever since COVID-19 pandemic outbreak, users started to shift to online, making more online transactions, be it essential or non-essential products. People also spend more time at home than staying outside. Read more at Bain: How Covid-19 Is Changing Southeast Asia’s Consumers.
Number of downloads of TikTok apps spiked up in the first quarter of 2020 (when COVID-19 start to outbreak). (Read more at SensorTower: TikTok Crosses 2 Billion Downloads After Best Quarter For Any App Ever).
COVID-19 has changed every individual and business world-wide.Many business collapsed during the COVID-19. The situation is inevitable. Conventional business operators may suffer, and this signifies the new trend begins.
In the fast trend changing world, business has to stay dynamic and ready to change. Business owners have to react fast enough.
Social media platform
With the uptrend of online transaction, businesses start to shift the focus online. Businesses start to leverage on Facebook Live, Instagram Story, TikTok social video app, and other social media platform to publicise their products and services. There is even a new profession dubbed “Facebook Live DJ”, who business owners hired specifically to run the sales on Facebook Live.
What could we expect after COVID-19? Stay-home culture seems to stay even after COVID-19. (Read more on CNBC: Southeast Asia’s online shopping boom is here to stay, even after the pandemic). Digital activities have become common and essential, which become part of our lives and inseparable.
How can we react?
Quantum Solutions R&D team is constantly observing the digital trend, and react accordingly. We’re currently developing FMCG High Frequency Transaction System, which will help business owners to streamline the process of handling large volume of order placement and payment system, transaction records and auditing.
Read more about our research on FMCG High Frequency Transaction System.