Interview with Money FM – How to Successfully Navigate a Global Downturn with Digitalisation
Our CEO, Lee Junxian, was recently interviewed by Money FM about Moovaz’s strategy to navigate the effects of the COVID-19 Pandemic. Demand for Moovaz’s international relocation services fell by 90% this year, due to lockdowns imposed by governments all around the world.
Yet, despite the global economic downturn, Moovaz made two acquisitions – The first was the acquisition of SPH’s Expatriate Publication, The Finder in April 2020, while the second was the acquisition of local on-demand van rental services startup, GetVan, in September.
When questioned how Moovaz managed to keep its head above the waters, Junxian shared the following:
Moovaz employs a digital-first strategy. Being digital-first enables the company to be extra-sensitive to market trends. Moovaz found that, due to COVID-19, many professionals who were stationed abroad, were moving home. This phenomenon of repatriation could be discovered due to Moovaz’s heavy reliance on digital tools, and allowed the company to create new operational flows to facilitate this changing international relocation trend.
Building Trust & Reliability
Also, Junxian shared that, while relocating individuals were generally more inclined to choosing an affordable service provider, what Moovaz realised was that people also tended to engage international relocation service providers with whom they could rely on. Trust, he says, is the key currency of any online business. Thus, Moovaz differentiates itself from its competitors by building trust with its customers using digital and automated flows.
At the same time, the company works hard to curate its movers and partners, and even professionally trains its packers. This provides customers with the assurance and peace of mind that their shipment and move is in good hands, thus encouraging them to trust Moovaz.
Familiarity & Expertise in Relocation
Moreover, Junxian emphasised that the secret to Moovaz’s success lay in having the right founding team. Prior to starting Moovaz, Junxian’s business partners had been in the logistics business and experienced firsthand its pains and inefficiencies. On the other hand, Junxian came from a tech background. The diversity of their backgrounds and entrepreneurial zeal enabled them to build a product that could not only address pain points, but also democratise and value-add to the existing relocation services market.
Before concluding the interview, Junxian suggested that, while the pandemic brought new threats, companies should capitalise on new market opportunities to grow amidst these challenges.
To listen to the full story, check out the full podcast on Mind Your Business, Money FM 89.3.
Moovaz is an international relocation service provider. With our tech-based relocation solution, we are dedicated to ensuring a smooth and hassle-free moving experience for people around the world. Are you planning to relocate post-COVID-19? Get an estimate for your move in advance now!
Looking to join Moovaz’s partner ecosystem? Contact us at email@example.com
(This interview with Money FM was jointly brought to you by Xero.)