Covid-19 and e-commerce
Today’s discussion merges two important aspects: Covid-19 and e-commerce. At first glance, you might wonder what the connection is between Covid-19 and e-commerce growth. Well, needless to say, that the pandemic has brought about massive changes in every sphere.
From self-isolation and social distancing norms to facing acute shortages of what we once considered as regular and easily available products and services, everything has been impacted due to the pandemic.
Amidst this rapid wave of change, we have seen people take new routes for themselves and adapt accordingly. One such route that has been observed is the shift in buyer behavior from traditional brick-and-mortar stores to online retail ones.
As Covid-19 poses certain difficulties and threats, it also provides e-commerce opportunities that can be utilized to grow a business and its profit margins. This is also known as The Covid-19 e-commerce growth.
Covid-19 e-commerce statistics, in countries like India, Germany, and the USA, show that the pandemic has led people to significantly limit their physical interactions with others, including performing daily tasks such as grocery runs. The resultant scenario has caused businesses to move to the online domain.
With the help of a plethora of e-commerce software available, businesses can set up their online stores easily and adapt to this changing consumer behavior.
E-commerce, while allowing for physical distancing, continues to maintain product variety and quality. It can, thus, boost the Covid-19 world of e-commerce.
Even though this had always been the case, the post-Covid-19 e-commerce services have been critical in providing goods that are essential to a large share of the population such as groceries and medicines, instead of primarily offering high-tech goods, toys, and books.
E-commerce platforms have also enabled continued access to certain areas of public life such as virtual concerts and tours. For firms, in spite of the prevalent Covid-19 pandemic, e-commerce has turned out to be a vital alternative that has afforded them an opportunity to continue their operations.
While some changes brought about by the pandemic might be temporary, others would most likely be long-lasting.
For instance, Covid-19 e-commerce growth statistics show that most elderly consumers have adapted their routines to the e-commerce stores’ so it’s not difficult to imagine that they would most likely be unwilling to move back to their previous routines.
Such is the Covid-19 impact on e-commerce!
However, not all online retail stores and product/service categories benefited from the Covid-19 induced consumer shift to e-commerce. There was a wide discrepancy in the demand for various types of goods being offered by different industries.
For instance, in the United States, a surge was observed in the demands for personal safety products, such as gloves and masks, groceries, and even ICT equipment. On the other hand, the demand for items related to sports, travel, and even formal clothing has greatly reduced.
In Germany, as a direct result of Covid-19, e-commerce sales have grown tremendously for products like medicines and groceries, which was previously not the case.
In Korea, the demand for products in the food services and household goods industry has risen significantly, whereas, the demand for leisure services, cultural services, and travel and transportation services has greatly declined.
In addition to this, another problem that e-commerce poses is the requirement of technology and technical know-how in order to fulfill one’s requirements over retail stores.
In order to counter these issues, national governments of various countries, in order for the world of Covid-19 e-commerce to survive, can launch targeted information campaigns and trust-building initiatives that focus on adult training and private-public partnerships.
Your business’ response to the ever-evolving situation that e-commerce presents depends on your industry and audience. Your responses would change as the dynamic of your audience changes. With the ever-evolving times, it is important to devise strategies to adapt your business to the changes being brought about by Covid-19 and its impact on e-commerce.
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Frequently asked questions
1. How Covid-19 has affected e-commerce?
- It is said that Covid-19 sped up the digital transition that is bound to have lasting impacts on society at large as well as on the daily lives of people.
2. Is it safe to online shop with Covid-19?
- It is safe to shop online as all major brands are taking appropriate steps to ensure the safety of both the delivery personnel as well as the end customers. However, you should also ensure to sanitize the package when you receive it.
3. How has Covid-19 affected online shopping?
- A UNCTAD survey shows that online purchases have increased 6-10% points in almost all the product categories.
4. How Covid-19 is transforming e-commerce?
- Due to Covid-19, e-commerce stores are focusing more on essentials, safety has become the decisive criteria, and of course, digital presence has become a must for businesses all around the globe!
5. Which industry (was most) affected by Covid-19?
- It was the aviation and tourism industries that were affected most by the Covid-19-induced pandemic.
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