These smaller businesses are attractive targets for partnerships with larger businesses who want to boost their online offerings.
“The pandemic has levelled the playing field in Australia and overseas for many businesses including ours,” said Jam Pathirana, CEO and founder of e-commerce organisation B dynamic.
He said that many large businesses have found that they are not COVID-fit – in other words, their business models were designed pre-COVID and not as suited to the fast-paced consumer environment. These 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,” Mr Pathirana said.
“Large businesses can’t shift quickly enough in response to rapidly-changing market conditions, whereas, smaller agile businesses like ours can.”
As a result, many big businesses are now seeking out smaller businesses to partner with that have capability to help them adapt, he said.
For example, he said B dynamic has helped ALDI build an e-commerce platform with integrated logistics technology – which includes shipping and returns.
“Now is the time for younger and smaller businesses to step up to the plate as the market needs us,” Mr Pathirana said.