Micro & small enterprises bank on digital channels for sales
04 January 2021: The Micro and small enterprises (MSEs), with a 60:40 mix of services and manufacturing sectors, have moved towards digital channels such as online aggregators/marketplaces and social media since the pandemic brought the nation to a halt, according to a recent CRISIL report. Among manufacturing sectors, gems and jewellery aggressively adopted digital channels for better business prospects.
Textiles industry has also been among the top performers, which is reflected in a substantial 38% increase in players transitioning to digital selling post-pandemic. In textiles sector, small enterprises outpace micro enterprises in adoption of digital channels.
The report stated that among services sectors, real estate and human resources were ahead of peers in adopting digital platforms for generating leads. Around 60% of the respondents that transitioned to selling via digital platforms said it helped them survive, while the remaining said it provided growth. However, media, which includes event management companies, outdoor shootings, and hoarding advertisers, etc, have preferred to cater to localised demand instead of aggressively pursuing digital sales due to the travel restrictions.