Australians have always loved supporting local companies. After all, your local provider understands the unique needs of your community, unlike anyone else in the world. As a committed Australian stovetop provider, Goldline has always hoped to give our clients the bespoke local experience that they crave.
Now, however, it seems that the impact of the COVID-19 coronavirus could mean that developers and kitchen designers across Australia will have no choice but to stick with suppliers that are local, safe, and accessible. After all, when you can’t access the import options that used to be available in the Australian market, you’re left looking closer to home for stovetop options that you can trust.
How the Economic Impact of COVID-19 Is Affecting Us All
The financial and economic impact of the COVID-19 outbreak has already proven to be much bigger than anyone could have predicted. It started with an early ripple, caused by a few reports in China, and whispers of people starting to get sick elsewhere in the world. Suddenly, within a matter of weeks, the issue had become one of global panic, forcing retail chains like Walmart, Target, and even Amazon to begin closing their doors and sending workers home.
Companies like Apple and Samsung have already issued warnings that their stock levels may be unable to meet market demands in the months to come. However, it’s not just the technology industry that’s likely to suffer. Experts in the economy predict that supply chain shortages throughout Australia will have a massive impact on all imports – including cooking and stovetop utensils.
During this time of panic and inaccessibility, a company like Goldline, which produces stovetops locally within Australia, can ensure that developers and kitchen manufacturers can still deliver for customers. Our wide selection of locally-built and shippable stove top options will ensure that businesses can continue to thrive in the commercial and residential kitchen environments, even as COVID-19 and it’s side-effects leave the country in chaos.
The Impact is Worse Than Anyone Expected
Some of the largest companies in the world rely on Chinese goods to keep their supply chain moving at a consistent pace. Virtually every major department store and grocery chain has been affected by this pandemic. You’ve probably already noticed the impact yourself, during cautious trips to your local store. As many Australian businesses already know, shifting supply chains quickly isn’t easy at the best of times. Now that countless companies are trying to move at the same time tracking down an available source of supplies is harder than ever.
According to the NRF Vice President for Customs and Supply Chain management, Jonathan Gold, there are still a lot of unknowns that make it difficult to determine the true impact that COVID-19 will have on our supply chain. Even as factories in China come back online, and products start to flow back into the marketplaces, it’s not going to be easy for many companies to regain their standing. The crisis still hasn’t passed, and cargo movement is still being affected at every level.
NRF surveys have found that around 40% of respondents are facing severe disruptions in their supply chains. Another 26% believe that they will see these problems rising shortly. Another NRF study also revealed recently that import levels are likely to drop by a massive 18.3% in March, and 3.5% in April.
Though the impact of this pandemic has caught us all off guard, it seems as though the companies and developers that stick with a genuinely local supply chain are the ones that will stay strong during this challenging time. Only local developers who can work with Australian businesses like Goldline to deliver the kind of stovetop options that their customers want will be able to ensure that problems with importing products and materials doesn’t slow down their business performance.
The Business Landscape is Likely to Change
When a supply chain disruption is so big that it affects the entire globe, including conglomerates like Apple and Amazon, it’s easy to see just how significant the impact could be. Many businesses will begin to lose sales in the months to come. The brands that have maintained close relationships with local suppliers of crucial stovetop options and kitchen equipment will be the ones that can continue to serve their clients. Even some of the major market leaders could find that they’re losing revenue to smaller, more bespoke developers.
It’s safe to say that no matter where you are in the world, the business landscape that you’re experiencing today will be changing. A focus on what’s accessible, local, and reliable will become more critical than big-name brands and marketing. Consumers will begin to rediscover the value of getting products and services from nearby companies that understand their needs and expectations.
Here at Goldline, we’re going to continue in our mission to deliver affordable and high-quality stovetop options to businesses and consumers alike in the months to come. Our local supply chain and our ability to work hand-in-hand with Australian developers means that we’ve been able to minimize the impact that COVID-19 has had on our ability to serve customers.
Unfortunately, not all companies can say the same. If your business has been relying on overseas imports for development, then now is the time to strengthen your relationships with local businesses again. Reach out to Goldline today for more insights into how we can help developers across Australia stay strong during the COVID-19 crisis.