Coming out of crisis – A Brighter Economic Outlook to Come
Much like most South African companies, CZ Electronics has felt the effects brought on by the COVID-19 crisis. And while 2020, and even 2021 have brought several challenges, sustainable recovery is being predicted as local businesses rally towards getting the economy back on track.
The consumer electronics boom
While lockdown affected many business sectors, there were a few niche industries that saw an increase in revenue during the COVID crisis. Gaming and online shopping, for example, became much-needed diversions and solutions for millions of people stuck at home.
Directly linked to these industries is the hardware needed to enable them. TVs, home entertainment products, digitisation solutions and other related hardware became indispensable during the pandemic. People naturally became more comfortable in their homes and embraced home entertainment and online shopping. And manufacturers like CZ Electronics were on-hand to service the need.
The upside to lockdown
In times of great crisis, opportunities to enrich communities, create jobs and provide relevant solutions to the public at large are priorities that can’t be ignored. And with more people going digital and staying at home – even as lockdown regulations are gradually eased – it has fallen to industry to step up.
As the demand for consumer electronics solutions increases due to our current circumstances, manufacturers and distributors like CZ electronics are finding ways of innovating more relevant products, creating more jobs for those who need the opportunity and providing affordable product solutions that service the ever-growing consumer need.
Growing the economy by learning every day
The fourth industrial revolution was rapidly accelerated by COVID-19. And the world has had to adapt just as quickly to keep communication, entertainment and progress alive. Progress is a constant learning curve and the best that business can do to service the ever-changing market is to educate itself and its staff on an ongoing basis.
At CZ Electronics, learning is part of the ethos that drives the team behind what it does. CZ staff members are consistently encouraged to educate themselves about new ways of doing things as the world progresses. And in educating themselves, knowledge is passed onto their communities, ultimately having a knock-on effect in the bigger skills development picture.
The world may have been forced into a state of change and flux. But at CZ Electronics, we believe that change can be embraced with positive effects. Learning and agility are the key to economic growth in South Africa. And we remain dedicated to using it to empower the country’s people and the economy.
CZ Electronics – Bringing Tomorrow Home.
Manufacturing South Africa
Electronics South Africa
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