The new normal for SMES is e-commerce

THE daily routines we are used to may likely be disrupted for several months to come due to the novel coronavirus (COVID-19) outbreak. Recall, authorities and governments at Federal and State level issued directives in recent days to contain further outbreak of the COVID-19. The pandemic which originated in China, has infected more than 600,000 people as at today. Theoutbreak has left businesses and individuals around the world counting losses already. It is now difficult to find large gathering in churches, mosques, social or sport events, even schools and some markets, all to achieve social distancing which is necessary at this crucial time. This restriction has come with disorientation and a swift in our daily routines which has brought about a new normal across our country Nigeria and across the globe. In Lagos State no gathering above 20 individuals is allowed in any part of the State and the police are doing well to enforce it. The pronouncements and public safety measures from the government has brought thousands of businesses to alockdown in the meantime due to movement and commercial activity restrictions. Many State governments have issued directives to contain the spread, though without thorough consideration of the economic impact on businesses and citizenry. At the moment international flights have been suspended around the worldwith just skeletal services left and flight operations within and outside Nigeria have also been suspended in the meantime. Likewise, interstate transportation and movements have been banned with immediate effect by State governments with State borders shut, all to check the spread of the pandemic.

All these measures have brought changes to how we live our lives and conduct business transactions in the country. Thousands of Lagosians for instance who previously eat out at restaurants or at work cafeterias, will have to contend with take-outs or prepare their food themselves with food stuffs brought from the markets. Beyond that business should now be very concerned on how to continue to run their businesses at this period. One of the ways SMEs can cushion the effect of the restrictions, manage the impact on their businesses is through technology adoption. Therefore, the next normal way to carry on business activities in the meantime is through remote communications, i.e., digital trade option, which is mainly through e-commerce. Electronic commerce or simply e-commerce, can give the needed hidden upside for businesses because it relies on various information and communication technologies (ICT), and it has the potential to improve trade efficiency and improve business performance, while this COVID-19 disruption persists. The use of technology will allow the automation of common processes in business, such as distribution, sales, after-sales service, and inventory management. The marketplace for business transactions will be extended beyond traditional boundaries with the adoption of e-Commerce. The necessary shopping, bargaining, and transactions can take place anywhere and businesses can be accessible everywhere and anywhere in Nigeria with the adoption. Be sure that the e-commerce platform will give SMEs the digital visibility and the safety required during these trying time.

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Obviously, this strategic adoption and adequate use of the e-commerce platform will aid compliance with the widely publicised precautionary measures especially the social distancing and no-touch greetings. Besides, customer convenience will be enhanced and the shopping cost will similarly be reduced. Transactional and operational costs of an online businesses are lower than the traditional brick and mortar businesses. Therefore, SME operators can showcase, transact and sell anything, even perishable items, such as fresh tomato, chicken, and so on, on the platform. In essence, e-commerce will provide the platform for businesses, irrespective of their size or number of employees to contain with the COVID-19 limitations and continue to transact despite the government restrictions. The e-commerce platform is a technological advancement tool for business for SMEs to offerattractive prices for their goods and services, build their reputations,and overcome the COVID-19 limitations. SME operators are able to connect with their target customer, business partners in a timely and efficient manner nationwide and internationally. Commercial activities are aided faster and online payment solutions support the effective usage of the e-commerce. Therefore, be informed that the electronic nature of this type of transaction will allow businesses to execute high transactions on a day to day and 24 hours basis without any physical contact. Likewise, it is convenience for clients to transact online because it will save them the stress of transportation, car parking cost, the reduction of the risk of coronavirus contacts and so on. The e-commerce platform guarantees an opportunity to break free of the limitation that physical outlets, offices, and shops provides. It will equally enable SMEs to transact beyond their neighborhood or geographical location. E-commerce can expand SME networks across geographical borders to reach a greater number of states and even countries

However, according to sampled opinion, some obstacles may obstruct SMEs from getting into e-commerce, some of which are: enterprise’s goods or services not being suitable, problems relating to logistics, problems relating to payments and so on. It is believed that these issues can be handled if the right assistance is sought on time. By adopting e-commerce, SMEs stand to benefit a lot especially increased revenues and sales, improved market reach, access to new markets and cost savings in marketing and communication expenditure. Therefore, the ability of SMEs to incorporate new strategies particularly e-commerce quickly and flexibly will be a key strength that will set business owners including young entrepreneurs, women in business, agriculturalist, manufacturers and business executives apart during this period. The adoption of digital trade for your transactions through e-commerce, social media marketing services, website design and development, mobile application developmentare able to keep your business going this period. It will equally change the shopping and business transaction landscape especially consumer behavior in Nigeria during this COVID-19 era and beyond.