Go digital, Neda chief tells bizmen
AS quarantine restrictions nationwide are eased, the government has advised firms to relocate much of their products and services to digital platforms in anticipation of a rise in e-commerce transactions under the so-called new normal.
Acting Socioeconomic Planning Secretary Karl Kendrick T. Chua on Monday said e-commerce will likely play a larger role for businesses and consumers under the new normal. He argued its feature of cashless payment makes it viable at a time people are directed to avoid physical and social contact to prevent the spread of the virus.
“Online shopping and marketing platforms will play bigger role in the new normal as businesses and consumers increase the use of electronic transactions, including cashless payment systems and other financial technology platforms,” Chua said in a news statement.
As such, he urged firms to bring their goods and services online to cope with changes brought about by the health crisis. Especially now that restrictions are relaxed, Chua said this might be the best time for businesses to make their next moves in boosting buyer confidence again.
“Businesses need to innovate and make full use of technology to resume operations and cater to consumer needs and preferences while still managing risks of Covid-19 infection,” he said.
In a survey done by the Inter-agency
Task Force Technical Working for Anticipatory and Forward Planning, it was reported that more than 50 percent of companies suffered an income decline due to the coronavirus pandemic and lockdowns. Difficulties in moving goods and people, imposition of curfews and lack of public transport made it hard for the private sector to make money over the past weeks.
In response to the rise in e-commerce transactions, the government is pushing for the review and possible amendment of the Electronic Commerce Act of 2000.
The revision should make the law more comprehensive in terms of detailing what transactions are covered by it, as well as the rights of consumers and the penalties for violators. The socioeconomic planning chief said this would compel businesses to make e-commerce easier, affordable and secure.
“Businesses need to make online shopping easy, affordable and secure for consumers so that they need not go out to buy what they need and want,” Chua said.
In addition to amending the law, it is important as well for government and private sector to pour in capital for the development of information and communications technology infrastructure. This should boost the capacity of the country’s Internet to manage the surge in online transactions and consumer requirement for reliable digital connectivity.