As the coronavirus pandemic hit millions of people worldwide, nations enforce work-from-home and physical distancing campaigns. Consequently, some industrial sectors are toiling to stay afloat. Still, some others have accelerated growth, mainly those who comprise the online technology. For the past few months, online grocery shopping has accelerated the trend globally as shoppers have sought ways to avoid or limit their visit to stores. According to consulting firm Bain & Company, at the height of the pandemic, online grocery sales increased as much as fivefold in the US. In Indonesia, online grocery platform TaniHub booked a 30% increase in monthly demand after the large-scale social distancing applied in many cities.
“We see a meaningful change in a way people do grocery shopping, from offline to online channel. The traction also increases significantly on a weekly basis at the TaniHub platform,” says Ivan Arie, co-founder and CEO of TaniHub Group. He adds the growth is also seen in the number of farmers that supply goods to the platform.
The monthly increase was attributed to sales growth in the business-to-consumer segment, which grew more than 100% every month since March. The demand was mainly contributed by the increase in herbal products, which are believed to boost immunity, as well as assorted types of groceries. Moreover, in March and April, there were more than 100,000 new users downloaded the TaniHub platform. TaniHub’s business-to-business segment stays stable. While many hotels and restaurants are closed down due to the coronavirus pandemic, the decrease of sales in the sector is offset by the increase of sales in the modern trade and food industry. Ivan adds that this year TaniHub aims to gain 300% of sales growth.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
BACK ON TRACK
Collective wealth gets a 21% boost to a record $162 billion amid an economic uptick.
Championing Locals
The wave of social commerce is enabling inclusive digital economies beyond urban areas.
Boys in the Bubble
Startups are supposed to specialize, but OPENSEA’s founders thrived by building a wide-open market for creating and trading all manner of NFTs, whether art, music or gaming. Now that they’re centimillionaires and poised to become billionaires, they have other worries: competitors, fraudsters and the next crypto crash.
Enduring Relations
The implementation of IA-CEPA amid the pandemic signifies the Indonesia-Australia’s commitment to recover and counter future challenges together.
Sweet Success
Steven Erwin envisions Unifam to become a major global player in the confectionery and F&B industry.
Marathon Man
Across America, scores of municipal pension funds remain scandalously underfunded. But not the pension fund of Tampa’s police and firemen, thanks in large part to JAY BOWEN, whose no-frills approach to stock picking has protected and served them for more than 45 years.
Gold Rallies on Inflation Fears
During September the price of gold rallied to $1,868 per ounce following the release of figures on US inflation by the Bureau of Labor Statistics which indicated that, as of September, CPI inflation had rocketed to 6.2%, above the 5.8% which economists had been predicting.
Set Off to A New Start
Bank Aladin has two main ingredients for success: establish trust and offer better customer experiences.
The Daily Intake
YOUVIT plans to invest further into marketing and grow into one of the leading vitamin brands in Indonesia.
THE CROESUS OF CRYPTO
FTX COFOUNDER SAM BANKMAN-FRIED BUILT A $22.5 BILLION FORTUNE BEFORE HIS 30TH BIRTHDAY BY PROFITING OFF THE CRYPTOCURRENCY FRENZY—BUT HE’S NOT A TRUE BELIEVER. HE JUST WANTS HIS WEALTH TO SURVIVE LONG ENOUGH TO GIVE IT ALL AWAY.