When the pandemic started, the Philippines experienced the biggest dip in its economy since World War I. This is due to nationwide lockdowns aimed to stop the surge and spread of Covid-19 infections. In the second quarter of 2021, the country’s GDP showed double-digit growth of 11.8% from the -3.9% of the first quarter in the same year.
Epson has been powering through the pandemic and has remained the market leader in 2021. Despite major setbacks experienced by many businesses in the country, Epson is right on track with its fiscal year 2021 (FY21) target, boasting 124% sales in the first half of the year. Epson scanners have maintained market dominance in H1 and have secured the #1 market share in document scanners.
There is a slight drop in demand for business systems like printers due to lockdown restrictions and school vacations. However, Epson’s commercial and industrial printer sales demonstrated aggressive growth as the market reopens and the election campaign starts. Meanwhile, the visual instruments market is expected to recover as corporate and leisure-related business reopens. Epson’s projector sales are expected to close at 144% by the end of FY21.
Epson’s Directions for FY21
During the FY21 Customer Support Midyear Forum, Epson leaders discussed their directions for the rest of the fiscal year. Included in their goals for product management is to maintain market leadership with the efficient use of resources and to rethink the way that the market is engaged.
Epson further improved the company’s customer support efforts by maintaining the base of its authorized service partners. Its boost on B2B support capabilities includes certifying its product specialists for corporate and onsite support for Epson products.
Additionally, Epson expounded on its supply chain management. Aside from ensuring efficient support for its products, Epson also secured spare parts stocking and availability. They backed up demo unit usage activities more efficiently through outsourcing and safeguard regulatory compliance by revising current processes.
Overcoming challenges caused by the pandemic
Epson as an organization prioritized its staff safety and well-being amid the COVID-19 pandemic. The company provided support for its employees such as oxygen tanks, care packs delivered directly to the employees’ homes, and home or office disinfection.
Aside from caring for its employees, Epson Singapore and the Philippines joined hands to aid service providers all over the country. Both the SG and PH teams highlighted the importance of meeting the user’s expectations in line with market norms through safe and useful products.
Additionally, the company utilized its call center services to efficiently focus on B2B, demonstrate a higher level of technical expertise, improve its online support platform, and optimize a fast-track onsite support as the economy slowly opens up.
Epson is already repackaging a lot of its technology to fit more into the higher demands and expectations of the market during the pandemic. The company is preparing to adjust to this change not just in the business aspect, but also in top-notch customer service.