The epidemic caused the Philippines’ economy to take a hit unlike anything seen since World War I. Due to widespread lockdowns intended to halt the escalation and spread of COVID-19 infections. The GDP of the nation increased by a double-digit 11.8 percent in the second quarter of 2021 compared to the -3.9 percent it experienced in the first quarter of the same year.
Despite the epidemic, Epson has persevered and will continue to dominate the industry in 2021. Epson is on course to meet its FY21 objective, enjoying a 124 percent increase in revenue in the first half of the year, despite significant losses faced by many businesses in the nation. In H1, Epson scanners remained the market leaders and took the top spot for document scanners.
Due to lockdown limitations and school breaks, demand for commercial devices like printers has slightly decreased. However, when the market reopens and the election campaign gets on, Epson’s sales of commercial and industrial printers showed a fast increase. As corporate and leisure-related businesses reopen, the visual instruments market is anticipated to improve. By the conclusion of FY21, Epson projector sales are anticipated to reach 144 percent.
Epson’s Directions for FY21
Epson executives talked about their plans for the remainder of the fiscal year during the FY21 Customer Support Midyear Forum. To sustain market leadership with the effective use of resources and to reconsider how the market is involved are among their objectives for product management.
Epson maintained its network of approved service providers, which further enhanced the business’s customer support initiatives. Its certification of its product specialists for corporate and on-site support for Epson products is part of its improvement to B2B support capabilities.
Epson also went into detail about their supply chain administration. Along with effective product assistance, Epson made sure that spare parts were stocked and readily available. They improved the efficiency of demo unit utilization operations through outsourcing and secured regulatory compliance by updating current procedures.
Overcoming challenges caused by the pandemic
The safety and well-being of Epson employees were a top priority throughout the COVID-19 epidemic. The firm offered assistance to its workers in the form of oxygen tanks, care packages delivered right to the workers’ homes, and office or home cleaning.
Along with looking after its workers, Epson Singapore and the Philippines teamed up to support service providers all around the nation. The SG and PH teams both emphasized the significance of satisfying consumer expectations while adhering to market standards through useful and safe goods.
The business also effectively focused on B2B, showed a better degree of technical proficiency, improved its online support platform, and optimized a fast-track onsite assistance as the economy gradually opened up.
In order to better meet the increased needs and expectations of the market during the pandemic, Epson has already repackaged a significant portion of its technology. The firm is getting ready to adapt to this transformation in both the commercial aspect and in providing first-rate customer service.
