As the country adapts to Level 1 of the lockdown, the material handling and industrial equipment sector has had to adjust to a quickly shifting landscape as predictions for the industry were quickly turned on their heads.
EIE Group CEO, Gary Neubert says as the economic data continues to paint a bleak picture for South Africa, it is evident that many industries will continue to take strain in the coming months, with more retrenchments on the cards and the unemployment situation worsening.
EIE Group’s robust business model has stood it in good stead during the most difficult parts of the pandemic. “Our model comprises four links in a chain – we distribute product; rent it on long- or short-term rentals; add value through service maintenance and parts; and we dispose of the product at the end of the rental period. It’s an incredibly powerful model that has given us many arrows to our bow in riding out the Covid-19 storm and allowing us to go from strength to strength.”
Neubert says no one can predict exactly what the future holds, but suggests that companies that are change-fit will be the true survivors. “For example, we know that new equipment sales are going to be difficult for the next 12 months, so we are boosting pre-owned sales. We are adapting as we go along. And that is key: agility and adaptability are our watchwords.”