E-Commerce Demystified – Key Imperatives for the Next Normal (Part 2 of 2)

With e-commerce going from strength to strength and several new platforms being launched, the challenge for e-commerce players lies in cutting through the clutter. From payment gateways to return policies, inventory management to logistics, and more, e-com platforms have a lot on their plate.

The pandemic has boosted regional e-commerce enormously and effected profound and lasting changes in consumer and enterprise behavior. All stakeholders should revisit their strategies, operating models, and policies to make the best of this e-commerce driven #newnormal.

Depending on the company’s strategy (Sustain, Adapt, or Build), an improved e-com strategy would comprise the following actions across five capability areas:

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With ecommerce set for even more prominence in the coming years, an even more pronounced shift to online will ripple through the entire retail ecosystem. Accordingly, key priority areas and activities for e-commerce players will include the following:

• Accurate assessment of their current placement on the digital journey
• Speedy and at-scale deployment of social media, third-party platforms, and e-commerce
• Action across the five capabilities as above
• The use of appropriate partnerships when necessary

The onus must be on finding the right balance between speed to market and cost efficiency. By embracing the right strategy and priorities, e-commerce companies in the region can compete effectively in the market and accelerate their e-commerce activities as the crisis abates.

Contact us at MBG Corporate Services for more valuable insights on these and other relevant developments.

References:

The United Arab Emirates (UAE) ecommerce Landscape 2020’, by Dubai Economy and Visa

BMI Research – Ecommerce Markets

Sauranshu is a Director with MBG UAE’s Risk Advisory practice and has extensive experience in risk consulting, especially in risk based internal audits, internal control systems and risk management. He has collaborated with market leading conglomerates across the GCC region to enhance their business performance through sound risk management, operational effectiveness, and enhanced governance primarily in the Retail, Hospitality, Government, Consumer Products, Transport & Logistics, Manufacturing, Healthcare, and various service sectors.

Sauranshu actively engages with clients to share leading practices, transform internal audit functions and internal control programs as well as drive awareness of the value of risk management to organizations.

Email us:- [email protected]