The first impression coronavirus made throughout the world was in the month of January 2020 and seven months down the line, it has impacted more than 180 countries in the world. With millions impacted and more than 600000 dead, Coronavirus has turned everyone’s life upside down. Not only on the medical front, Coronavirus has brought in unprecedented challenges for businesses in every niche. While markets in some countries opened up, they remained close throughout the world to stop the spread.
But amidst these dark clouds, eCommerce emerged as the only silver lining. Due to coronavirus, businesses were forced to shut any physical connections were cut off. This forced businesses to accelerate their digitization initiatives and bring their eCommerce market into front. In this article, we will discuss how Coronavirus has helped eCommerce industry.
People turning to eCommerce to buy products
Coronavirus has created a time when people hardly want to come out to shop. It has drastically changed the shopping habits of people. From smaller products to clothing and daily products, people are moving to websites that sell because they are afraid to go to any store. As per a study conducted by Morning Consult, around 24% consumers in US don’t feel comfortable to go to a shopping mall for the next six months.
This is why the ecommerce industry saw stupendous rise. While the page views grew by 75%, order counts went up by 57%. If we compare the same statistics before the pandemic, there was 11% growth in page views and 2% growth in order counts in January. The same stats were 15% and 6% respectively in February. These statistics show that it is the perfect time to start as an ecommerce sector.
Retailers moving online
People have adopted social distancing completely and due to that retailers are feeling the most heat. There has been a drastic drop in people going to buy products from retailers. This means that people are buying and stocking up online. Therefore, retailers are also moving up online to sell products. by digitizing, they are also able to reach new customers apart from their traditional loyal customer base. As situation improves, not only will ecommerce help them increase their business but also help them grow in their traditional circles. What would be required is capital, equipment and a functional supply chain.
Safe order delivery options by online stores
One of the most important reasons why people have moved to online stores is because of their safe delivery options. It has been revealed that virus can live on surfaces for several hours depending upon the type of surfaces. But the process taken by online stores takes some time and when people receive their package, it is little that the packet contains contaminants.
The WHO has also clarified that receiving parcels is safe from locations. The organization also says that a package getting contaminated from a positive person is very low. The chance of getting virus on the package during movement of delivery is also very low. Therefore, it is highly safe to get deliveries from online stores. These online stores also take regular care with delivery persons regularly wearing PPE kits, sanitization of products and vehicles help them take great care.
Most bought items are safety products, entertainment and priority purchase
The three categories which has seen huge orders and page views are safety products, food & beverages and entertainment products. People thought that it would be safer for them to buy these products online than risking to go out. Since the start of the lockdown, health products such as medicines, masks & sanitizers, essential groceries and entertainment products have been bought more by people through online means. On the contrary, luxury goods, clothing, restaurants, luggage bags and travel industry observed considerable losses.
Future for ecommerce owners
The behavioural changes forced by coronavirus have led customers to shift from retail to online stores even for smaller and daily products. People are also trying to buy in huge quantities so as to avoid ordering again or to go out and buy again. Courtesy of these behavioural changes, further shift in even ecommerce buying is expected.
For companies wanting to boost ecommerce sales, they must go strategically about developing their future moves. They must develop an intuitive storefront, a well-functional website, inventories and a well-oiled supply chain management. They must be able to make quick changes through market research, people’s shopping patterns, search patterns, pricing and discounts. They must also be ready to shed money in site development and maintenances either through an agency or through an inside digital marketing team. However, agencies will charge less.
Coronavirus has impacted everyone’s life. Be it a small time vendor to a multi-billionaire, everyone has suffered. Businesses are facing unprecedented times and uncertainties are growing up in market. Therefore, one should be ready to use the condition of the market and strive to always motivate their customer to sell more products. Once the conditions normalize, growth rates will stabilize and things will come to normal. Ecommerce, however, will have long lasting impact.
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