The Golden Age of Retail
Leveraging end user buying phenomenon
With the rise of B2B eCommerce, on-demand information access, and omni-channel commerce, customers’ behavior have dramatically shifted from buying wholesale to retail. Significant for business?
According to reports from Forbes and Dubai Chamber of Commerce, companies will cash in on B2B eCommerce and e-commerce which are projected to shoot up at USD6.6 trillion globally and USD69 billion in the Middle East respectively in 2020.
Yes, end users today have limitless power (literally on their fingertips) to get the product plus services that goes with it such as delivery options, installation, replacement, etc.
So, how can B2B based enterprises like the bearing aftermarket industry get a fair market share? Let’s count the ways.
- Reinvent the business model– Shake up traditional industry practices and join the digital bandwagon. Any idea on the top marketplaces or e-commerce platforms in your region? Let your market research team help you!
- Demographics count– Digital natives (Millennials and Gen Z) are flooding not just the workforce but the world’s population bringing with them different mindset and skill set. Study them, learn from them.
- Go small on packaging– This is the future of consumption. Smaller packaging means convenience in price thus saving your customer money until the next paycheck. Not to mention, going small gives space saving capacity and portability
Easy-peasy? Any thoughts? We’d love to hear from you!
Visit us at Automechanika Johannesburg’s Hall 5, Stand 5F01A from the 18th-21st of September 2019 and check out the NEW 1lb/454g of NTN-SNR’s HEAVY DUTY EP High Load grease!
When SMALLER just got even better