The Corona / Covid-19 outbreak that has not yet subsided in Indonesia has an impact on various sectors, not only health but also the economy and business. Several businesses ranging from micro to macro are increasingly sluggish, they have started to reduce and even stop production due to the declining number of buyers, especially for retail businesses. Despite being in the midst of a crisis, the mobility of goods and buying and selling activities are constrained, the wheels of the economy must continue to spin because people's demand to meet the necessities of life continues. The community, especially entrepreneurs, must be keen to see positive opportunities to be able to provide solutions to market needs in conditions like today. The presence of digital technology can be used to market and sell products to consumers as well as a strategy to survive in the midst of the crisis due to the Corona outbreak.
In the summary of the TopKarir on Sonora live broadcast (20/4/2020) Bayu Janitra, CEO of TopKarir Indonesia, accompanied by Rara as the host, shared his views regarding promising business opportunities in the midst of the Corona outbreak situation.
Mas Bayu is familiarly called, seeing the stage of changing consumer behavior in the midst of a crisis due to the pandemic. When Covid-19 occurs, all generations tend to behave the same way, the first thing they do is panic buying because humans have an instinct to feel safe. The second stage is that they begin to realize which products are important and which are not. And thirdly, people are starting to understand that there are goods that really need to be bought more with the excuse of reducing the frequency of going out of the house.
Studying behavioral changes in various generations, Mas Bayu explained that generation z and millennials are more focused on buying products that are important in these conditions, such as protective masks, hand sanitizers, gloves, hand soap, etc. While generation X and baby boomers tend to buy products that they are used to buying, the occurrence of Covid-19 does not really affect shopping decisions.
Based on research conducted by Nielsen, Mas Bayu also summarized six points of change in people's behavior in the midst of a crisis due to the pandemic, firstly, health minded where people think preventively, health management which tends to prioritize health products to prevent the spread of the virus, third is pantry preparation , people start buying product in large quantities for long-term needs as well as a step to reduce the frequency of shopping out, the fourth is quarantined preparation , the community deftly takes steps to prepare themselves for quarantine and buys all the items needed, the fifth is restricted livingwhere people start to limit the purchase of goods that are not really needed and prioritize primary needs during the pandemic, and sixth is the new normal , new habits are born by the community, such as a higher concern for helping others and donating.
Opportunities in online business are of course very large, but there are also obstacles in terms of distribution. Delivery of goods to some areas is restricted or even closed access.
According to Mas Bayu, potential products for business are health and safety products , such as protective masks, due to very high public demand. People are now much more hygienic, this is what brand owners need to identify so they can process their products more cleanly to increase public confidence in buying products.
In the food and beverage sector , people in the second week of quarantine and working from home are getting bored with home food because they are used to eating different foods in the office every day, so they end up ordering food online.
"I think this is the new normal where people have started to get used to this kind of condition," said Mas Bayu.
Digital services are also on the rise, now people are starting to subscribe to cable tv, Netflix, Spotify and Youtube Premium for entertainment during quarantine, even digital streaming is considered one of the most potential business sectors.
When asked by Rara regarding promising business products in the midst of the current epidemic situation, Mas Bayu shared three profitable online business ideas. The first is a business in the food sector, but it should be noted that the food sold is not one time consuming , people now prefer to buy food that can be stored and lasts for several days, such as frozen food . The second business opportunity is the online grocery business, start business young people are no longer active in the market, and they don't want to eat the same food every day with ingredients they have at home. People need to be active and cooking is one of the productive activities at home. The third is the snack business, to accompany work activities at home, coffee and snacks are products that are in high demand.
"If we have determined what business we want to run, the next step is to deliver the interests of consumers, the first is a sense of security and comfort with a hygienic production process, the second is product quality," added Mas Bayu.
Finally, Mas Bayu also shared an online business strategy that would benefit the company. He explained that the first step that must be done is not to panic by immediately turning to an online business before the product is actually properly researched , because what happens is customer dissatisfaction and disappointment with the product.
“Making the decision to switch to online or not depends on the research we do, just a small search . As an easy example, we can use the survey, poll , and question features in Instagram Stories to find insights regarding prices and market desires. The point is we can take advantage of the tools that are around us. The second is learning from existing business examples, observing what happens in the field,” explained Mas Bayu.
Mas Bayu also shares tips and tricks on starting an online business and how to market it in the current Covid-19 situation. He explained.
“The key is product segmentation, it must be clear and there is a difference compared to similar products, we identify opportunities that can be encouraged, build stories about your product, for example, products are made with high quality materials, that's one of the branding efforts . We have to keep coming up with new ideas that address people's needs and also make sure they feel safe and comfortable when buying our products, because now everyone needs that.”
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