The digital economy has been redefining industry boundaries for years. The onset of COVID-19 only accelerated this trend in the manufacturing and consumer product space. More middle market companies are now attempting to sell directly to consumers online, and many are extending their internet presence beyond the large e-commerce websites.
Part of this is attributable to manufacturers adjusting to new customer preferences. The pandemic created a drastic spike in demand for consumer products. And we all saw the effects this holiday season when most were faced with shipping delays, and many were unable to obtain out-of-stock products.
These consumer product gains haven’t all gone to large corporations though. Middle market companies also experienced growth, since many were better able to weather last year’s shipping crisis through more efficient supply chains. This has opened new customer relationships and lead to a competitive advantage against large competitors that lacked this supply chain resilience.
While not all of these gains will be sustainable post-pandemic, some of them will remain. Particularly the shifting losses from larger companies that benefited the middle market as the stress in their supply chain became evident during the pandemic.
Middle market companies would be wise to capture pandemic-fueled growth by continuing to focus on helping consumer products reach bigger markets.
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