KELOWNA, British Columbia, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Europe’s rapidly growing wholesale and retail electronic products trading company Imex Holding, gained record revenue increases in a short time. With its personalized algorithm, Imex Holding offered the best prices in the sector and expanded its network to the globe. According to Michael William Sorensen, who is the manager of the company with decades of experience in a wide spectrum of business, the ImexWorx system has a huge impact on the company’s high profits in the recession and pandemic periods.
Imex Holding has obtained sectoral leadership for several years, as the main distributor of IT hardwares and consumer electronics in particular. And now planning to gain a sustainable growing speed with its newly-developed algorithm to the retailing industry. Thanks to this algorithm running in the background, the company aims to meet the customer needs by locating the products and offering special prices. According to the owner and the CEO of Imex Holding, Michael William Edelberg Sorensen, ImexWorx helps to control inventory availabilities in different retailers and expand business capabilities.
How Did Pandemic-Driven Recession Affect the Retail Trade Industry?
The global crisis has negatively affected many business areas, including the retail trade sector. According to the pandemic impact on retail sales search, all industries witnessed rapid profit decreases in 2020. Many stores closed down because of the pandemic restrictions and total loss in the retail sector changed between a ratio of 20% and 35%. Compared to the pre-Covid-19 periods, swiftly decreasing customer spendings turned into the recession and the retail sector faced additional problems such as raw material shortage and supply chain cuts. Imex Holding CEO Sorensen stated the digitalizing customer behaviors were effective in the rise of e-commerce, and it’s now essential to integrate new solutions into the business models.
Mr. Sorensen emphasized that the main reason for Imex Holding, despite being a new company established in 2017, to turn the crisis into an opportunity was the spot-on sectoral analysis. He also used the following statements on the subject: “Crisis environment caused by the pandemic had an impact on product trade. In this chaotic process, where consumer purchases have fallen and supply chain cuts have occurred, many companies faced collapses. Focusing on analyzing sectoral needs in 2017, Imex Holding started to carry out its future plans and overcame challenging periods such as the pandemic and the recession with a high turnover. The basis of the company success over its competitors is the smart algorithm, called ImexWorx but Imex Holding also stands out with its qualified team. Therefore it’s now focused on reaching out to giant markets such as the US and Canada with the help of its special algorithm that tracks products and price changes.”
How Does Imex Holding Manage Changing Trends in the Retail Industry, After Covid-19?
According to the previously shared report, the swift fall in physical purchasing enabled online trade to accelerate. Online purchasing ratio was about 20% in February, 2020 and reached to 34% with a rapid increase in March. Mr. Sorensen stated that even after the pacification of the pandemic, e-commerce is still the primary shopping method for many customers and these behavioral changes are permanent.
He also declared that Imex Holding was the biggest game-changer in the sector and continued as follows: “Covid-19 pandemic caused irreversible changes on purchasing habits. Consumers chose to prefer reliable products from well-known retailers and finding the most affordable prices became the real race. As being one of the leading European distributors, Imex Holding started to change the rules of the game. The company had an advantage of anticipating the sectoral needs and customers’ demands with the help of its new technology, which made it easier to follow periodic trends and analyze stock information of the main retailers. The artificial intelligence supported algorithm called ImexWorx, provided Imex Holding to detect price history of different retailers, the information of where to find the demanded product and stock availabilities from different stores. The accurate and real-time monitoring system of ImexWorx, enabled Imex Holding to conduct productive studies on the subject. Understanding the challenge and providing a sustainable supply service, Imex Holding is now ready to lead the world market.”
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Source: Company press release.