Whenever you hear the word Magalu, you probably think of a great place to spend your holiday. You probably imagine an amazing vacation in a pristine place, surrounded by breathtaking mountains, beautiful beaches, and sparkling waters. Or you might think of a secluded island inhabited by friendly people, beautiful tropical plants, and a laid-back vibe. Whatever the case may be, you should know that you can get plenty of benefits from a vacation at the Magalu Resort in Puerto Vallarta, Mexico.
Founded in 1957, Magalu has been one of the largest retail chains in Brazil. During the years, the company has invested in digital technologies, including integration with popular social networks, in order to increase sales. As a result, the company has more than 1,000 stores in the country.
In addition, the group has made social actions to benefit small and medium-sized companies. This includes the implementation of strategic measures for the benefit of employees. In 2010, Magalu engaged in social actions to prevent and combat the COVID-19 pandemic. It also contributed to a program called Amigos do Bem that helped children in need.
The company also financed a project in Paraisopolis, a city in the state of Sao Paulo, that promoted community projects. It partnered with Instituto Ethos and Adote um Universitario.
Investment in digital technologies
Investing in digital technologies can provide a range of benefits. In the most basic sense, it can facilitate transactions. In more advanced applications, it can be used to automate processes and reduce carbon emissions. In other words, it can be a driver for economic growth.
To be sure, there are many companies out there that are using digital technologies to improve efficiency. However, a new study by Accenture and the World Economic Forum attempts to quantify the business impact of these technologies. In addition, the study aims to inspire business leaders to make informed technology investments.
In particular, the research looked at 14 industries. The study aims to highlight the best and worst practices, and to demonstrate the true ROI for investments in digital technologies. The report was authored by Mark Knickrehm, a partner in the firm’s Strategy practice.
During the COVID-19 pandemic, Magalu has implemented several non-market strategies. These include social initiatives, renegotiated contracts with suppliers, and the creation of a hotline to help employees report domestic violence. In addition, Magalu has also invested in philanthropic and community projects, such as the National Program to Support Health Care for People with Disabilities.
Magalu has always engaged in social and political actions. These include donations to philanthropic organizations, the creation of a hotline to help workers report domestic violence, and the launch of a collaborative network called Mete.
Magalu also launched a digital platform that allows individuals to sell products to the company. The platform is powered by APIs, which allow third parties to sell under the Magalu banner. The company’s growth soared during the COVID-19 pandemic. The site’s inventory increased to over one million SKUs by late 2017.
The Magalu marketplace allowed more than eight thousand sellers to make sales online. The site absorbs virtually no marginal cost when a new merchant is added to the system. The company’s revenue increased by a factor of two during the pandemic.
Impact of COVID-19
During the COVID-19 pandemic, Magalu employed resources to help combat the spread of the disease. The group was engaged in strategic actions for the benefit of its employees, small and medium-sized companies, and Brazilian society. The group is involved in different social projects developed by different NGOs and public and private sectors.
In the midst of the COVID-19 outbreak, Magalu launched a digital platform that allowed its salespeople to sell group products online. Thousands of sellers signed up to the platform. They were paid a commission depending on the volume sold. They were also able to sell products from other traders.
In the midst of the COVID-19 pandemic, the Magalu group donated ten million reais to help treat the victims. It also invested in a team of engineers to monitor COVID-19 cases in major cities.