The pandemic has provided one of the most disruptive yet exciting opportunities for smaller fast-growing dynamic and agile businesses.
“The pandemic has levelled the playing field in Australia and overseas for many businesses, including ours,” Jam Pathirana, founder and CEO of of eCommerce organisation B Dynamic, said. “Large businesses have found that they are not COVFIT (COVID-FIT). What I mean by this is that their business model and size is not suited to the fast-paced COVID consumer environment. They built their businesses and grew them on the back of pre-pandemic market conditions. These conditions included physical store-front environments, rusted on brand loyalty and time-poor consumerism.
“Fast forward to COVID and consumers are now spending more time at home online, they are shopping across a broader range of outlets, engaging in more research time and being a bit more brand adventurous if the price is right,” Pathirana said. “Large businesses can’t shift quickly enough in response to rapidly changing market conditions, whereas, smaller agile businesses like ours can.”
This scenario has led to big businesses seeking out smaller businesses to partner with that have the capability to help them adapt and respond to fast-changing market conditions.
Pathirana said that large businesses such as ALDI, Universal Music Group, Dymocks, Reckitt Benckiser, Costco and Sanitarium have availed themselves of B Dynamic’s services during the pandemic to develop and deliver solutions to enable the organisations to grow online sales rapidly while minimising administrative and logistical work. Pathirana believes that this is a sign that SMEs will continue to benefit through the pandemic as the market changes and evolves.
“Where size was once a strength, it is now a disadvantage,” Pathirana said. “Now is the time for younger and smaller businesses to step up to the plate as the market needs us.”