Pandemic spurs online sales of MSMEs: Report
The pandemic has led to a surge in the share of online sales for micro, small and medium enterprises integrated with e-commerce platforms, thereby boosting their revenues and spurring hiring, according to a report.
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New Delhi: The pandemic has led to a surge in the share of online sales for micro, small and medium enterprises integrated with e-commerce platforms, thereby boosting their revenues and spurring hiring, according to a report.
The survey-based report by ICRIER, a leading economic think tank, found that digitalisation was a key coping mechanism for MSMEs to overcome mobility restrictions during the pandemic. "The report suggests that MSMEs are increasingly embracing digital technologies, with online sales accounting for 27 per cent of the total sales of surveyed MSMEs in 2020-21, up sharply from 19 per cent in 2019-20 and 12 per cent in 2018-19," a release stated.
MSMEs that have adopted e-commerce platforms have experienced an increase in sales, turnover, and profits. This has also led to increased hiring.
