Business

Jumbo Stock announces growth of 200% during its last quarter amidst COVID-19

As the Covid-19 pandemic surged across the world, it significantly impacted the global economy. While it is relentlessly destroying brick and mortar businesses, e-commerce is gaining momentum and thriving under the ‘new normal’ scenario. Founder and CEO of Jumbo Stock, Roy Vanono states, “With people staying indoors due to the imposition of lockdowns and fear of contracting the virus, it has significantly altered the consumer purchasing behavior, compelling several businesses that required minimal human contact to hop on the e-commerce bandwagon to stay relevant.” This has led to a proliferation of the e-commerce industry, resulting in wider availability of goods and services at competitive pricing.

Based in Israel, Jumbo Stock is a national brand dealing in a diverse range of categories such as furniture and home décor, kitchen and housewares, bathroom items and accessories, textiles and bedding, toys and games, camping items, electrical appliances, cleaning products, pharmaceuticals, and more. There are 11 retail stores across Israel, and Vanuno launched the e-commerce site in 2019. He states, “As the mandatory lockdown kicked in and retail stores shut down, the website witnessed an exponential growth in every vertical. Offering the convenience of shopping for excellent quality and unique products at discounted prices under one platform along with the incentive of home delivery, enticed the consumers, and bolstered the sales.”

Prior to the pandemic, there was a clear distinction in the way people chose to shop. Some preferred the convenience of shopping online from home, whereas others enjoyed the experience of visiting a retail store and having human interaction. According to Vanuno, the onset of the pandemic has changed the dynamics, nudging consumers towards the digital platform.

Foreseeing this shift as a long term trend, Vanuno is excited about the future of Jumbo Stock’s digital presence and plans to focus on priming it for more growth and success. He has introduced a variety of new products to further augment the sales and also initiated giveaways of gifts and other benefits to new customers who join the customer club, which is free of charge.

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