【hktdc.com Sourcing】The COVID-19 pandemic has undoubtedly impacted all sectors of the economy. Even with travel bans and restrictions slowly lifting from many countries, the economic effects of this pandemic have caused significant damage to many businesses. That being said, opportunities arise with every adversity.
During the pandemic, businesses have been essentially forced to go digital. For some companies, being unable to cope with the harsh environments of COVID-19 has caused owners to shut down their businesses altogether. However, others decided to embrace change and focus on adjusting their product lines, digitalise their business models and persevere through times of hardship.
Read more about how various companies have successfully adapted their businesses during the pandemic with hktdc.com Sourcing in the stories below.
Founded in 1995, Prime Success Enterprises Ltd is an OEM producer of children’s toys, outdoor tents and pet-leisure products. Unlike other producers, the company focuses on developing quality products that are light, durable, and can be conveniently stored. Before the pandemic, Prime Success Enterprises Ltd’s pet cooling mats were widely popular in the European pet market due to multiple European heatwaves.
However, with the COVID-19 pandemic hitting European countries in 2020, many toys and pet stores were forced to shut down. Facing a sharp decline of 30% in order volume, business owner Mr Yang had to find a way to turn things around.
By combining his company’s expertise with new market demands, Mr Yang developed a series of Desk Top Protective Shields that are light, easy to clean and adjustable. Within ten days from conceptualisation to production, his company launched the product on the market and received a positive response from local buyers.
Despite Mr Yang’s innovations and reaction to the market shift, business was barely reaching pre-pandemic levels. To search for more extensive opportunities, Mr Yang decided to try hktdc.com Sourcing’s innovative Click2Match digital platform. Click2Match seamlessly helped Mr Yang link up with relevant buyers and facilitated his process of finding new clients.
“HKTDC’s team of professionals helped us match with interested buyers from India and Japan. During my discussion with a Japanese buyer, the hktdc.com Sourcing team even acted as a translator – demonstrating great levels of dedication and professionalism towards each business match.” Mr Yang said.
Mr Yang continues to use hktdc.com Sourcing as his primary sourcing platform, attending digital fairs and promoting his line of products to new buyers from around the world.
Making the Most of Online Sourcing
For business owner Ray Leung, a smart decision to use hktdc.com Sourcing’s online platform right at the beginning of the pandemic brought his company great success. Facing global demands for anti-pandemic supplies, Ray’s business, Matrix Promotion Limited, developed a series of personalised travel-size hand sanitisers for corporations.
Quickly recognising the market demand for hand sanitisers and understanding the importance of digitalised sourcing, Ray chose to use hktdc.com Sourcing to promote his customisable products. Within days of posting his products online, Ray received a daily average of 20 to 30 orders from hktdc.com Sourcing alone. Before using hktdc.com Sourcing, Ray mainly received orders from intermediary companies. However, this sourcing platform provided him with direct deals with many global corporations across the globe.
Ray recalled that hktdc.com Sourcing referred him to multiple clients from abroad, allowing him to secure many large-sized orders. He once completed an order of 120,000 face masks and 1,000 thermometers just from a referral from hktdc.com Sourcing. By appropriately using a reputable sourcing platform, Ray’s yearly revenue shot up by 35% compared to pre-pandemic periods.
“hktdc.com Sourcing provide SMEs with many growth opportunities. The online sourcing platform provides small corporations like us with great flexibility so that we can properly utilise my resources,” said Ray. Today, Matrix Promotion Limited continues to expand its business to many international clients with the help of hktdc.com Sourcing.
The Road to Digitalised Sourcing
HKTDC Sourcing’s digital fairs and online sourcing platform has helped many buyers and suppliers reach their business objectives since its establishment. Find your business partner with HKTDC Sourcing today.
hktdc.com Sourcing is a reputable B2B sourcing platform that reaches over 2 million international buyers and features over 130,000 quality suppliers. Powered by AI technology, the platform has multiple innovative functions which can seamlessly match suppliers with buyers. You can learn more about hktdc.com Sourcing here.