The 2020 contagion resulting from the novel coronavirus 2019 is real taking significant toll on economies and people of all nations across the globe.
And as people strive to keep normalcy in their lives, social media and virtual meetings have become part of the new normal. The Digital 2020 April Statshot report by Hootsuite and We Are Social showed that 64 percent of Filipino internet users are spending more time on social media, with 23 percent indicating an increased activity in their online shopping.
With consumers resorting more to online shopping amid pandemic restrictions, entrepreneurs have embraced the digital phenomenon for online shopping even more. More than ever, online business transactions this year has become an infinite marketplace where conducting business has become more convenient and efficient for both vendors and vendees. In September 2020, the Department of Trade and Industry (DTI) has reported to have registered a total of 75,029 online businesses from January to August this year.
In an interview, DTI Secretary Ramon Lopez said the bulk of internet-based businesses was registered during the start of community quarantine.
He said 73,276 online businesses registered between March 16 and August 31 while registration of online entrepreneurs from January to March 15 reached 1,753 only.
In July, DTI reported that total online business registration in the first seven months of the year reached 37,000. This means registration of online businesses quickly doubled in one month and hit the 75,000-mark.
This goes to show that many Filipinos have resorted to gaining business opportunites by selling online—mostly for essentials such as food items and groceries.
The rise in online selling amid restricted movement also see the rise of domestic consumption by putting local brands, products, and even destinations into the spotlight. Various facebook communities for sellers, hobbyists and even barterers have also sprouted keeping local communities alive.
Support and buy local
In lean times, such as the pandemic, consumers pinch every peso and eliminate most luxuries. From cutting back on extras to more prudent spending and budgeting, people inject a degree of caution into their financial habits. So when deciding where to spend your hard-earned money for dinner or a gift for a friend, consider the benefits of turning to local, independently owned businesses within your community.
By supporting local businesses, you are supporting local economy with significantly more money staying in the community.
Local businesses are owned and operated by your neighbors who care about and who invested in the well-being of your community and its future. These businesses are more likely to utilize other local businesses such as banks, service providers, and farms. They are more accountable to their local communities and donate more money to non-profits.
Supporting local businesses is also good for the environment because they often have a smaller carbon footprint than larger companies.
Now, more than ever, many Buy Local groups advocate patronage of locally grown food products and other great products and services while helping to build a strong and successful community around you.
Image credits: golokal.dti.gov.ph