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Posted by Swivel-eye 01 August 2020
Some hundred odd days you’ve had to look in the mirror?
So what will you look like in the aftermath?
You only have a choice of two!
The easy way?
Be the victim.
The tough way?
Adapt and utilize new opportunities.
COVID 19 has fast tracked the fourth industrial revolution.
The new normal, the normal new, nothing will ever be the normal as you’ve known it.
You have to reboot yourself and your approach to life on all levels.
Only the opportunists will survive!
Thinking outside the box is no longer relevant.
You have to reinvent your own box!
Just have a look what Chris Dee had to say about their American based online auction platform Auction Mobility during the epidemic.
“In the current world climate, we wanted to provide a quick summary of our portfolio’s online sales performance for the period of March-Mid May 2020.
First, our customers experienced a 423% performance against the high catalog sum estimate. Meaning, the lots sold for over 4-times the expected high estimates provided by our customers.
Next, our platform accounted for 58% of the amount sold.
Last, we are seeing over 10 times the amount of online bidder traffic than we experienced in the Dec ’19 through February 2020 timeframe. It appears that buyers still want to buy and are engaging the auction house digitally.
We understand that there are country by country regulations that may have ceased all auction events whether live or online. However, we wanted to provide you these statistics to reassure you that your digital business will thrive with the proper catalog, marketing, and online commerce platform.
Do not be paralyzed by analysis and speculation regarding online bidder participation and online-only sales formats of live or timed. The auction industry is proving to be very resilient and active in these times.”
While e-commerce is a new trend to the South African business market, it is growing rapidly at a rate of 26% since 2015. As more and more people gain access to the internet and mobile devices, an increasing number of consumers is expected to start shopping online: there are currently more than 18 million e-commerce users in South Africa, with an additional 6 million users expected to be shopping online by 2021. These future 24 million e-commerce users might spend an average of R 3118.50 online. Currently, the total South African e-commerce revenue across all product categories is R44.38billion.Electronics and media are currently the leading product categories bought online in South Africa, accounting for 35.9% of the market share, followed by furniture and appliances (which generate 20% of the total revenues). In South Africa, 60% of online shoppers buy via desktop, and 55% and 38% often shop via mobile and tablet respectively
The honest truth be said, the future isn’t what it used to be, but certainly better times ahead for the e-commerce auction space!
“The pessimist complains about the wind. The optimist expects it to change. The leader adjusts the sails.”
Till next time.
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