Covid-19: A Blessing in Disguise for E-Commerce Businesses

Imagine becoming a millionaire overnight, that’s what happened to the global e-commerce industry as the COVID-19 forced everyone to be quarantined. The virus caused the shutting down of all brick-and-mortar stores, and people finally started turning their reluctant heads towards online shopping.

E-Commerce during Pre COVID-19

Before the unprecedented COVID-19 pandemic, the e-commerce platforms were pacing up with a global rate of 5% -7%. Many under-developed countries were starting to adapt to the idea of e-commerce stores. The experts had already predicted a massive rise in online shopping in the next decade. People were becoming interested and experiencing online shopping websites and on social media for the first time.

A majority of People were still unwilling to adapt

Despite the curiosity inciting technology and an annually increasing traffic rate, brands were failing in their attempt to earn a considerable profit through online channels due to the gaps and glitches.

  • Unsatisfactory first experience, leading to a total boycott of using e-commerce platforms.
  • Many local and international deliveries were delayed and orders were, therefore, canceled
  • Many early millennials were not internet savvy and reluctant from experiencing buying online.
  • People wanted an instant response in queries regarding product details and refunds. Customers were unsatisfied with the support services provided by these e-commerce platforms.
  • A majority of consumers were having trust issues and were preferring to physically observe the products in person at a physical shop rather than observing it on an image or a video.

 

Yet youth was interviewed and said he and his family were not willing to opt for online shopping. He said, “I once had a bad experience while cheap assignment service. I consulted online writing which turned out to be a scam. I also wanted someone to write my assignment for me at cheap rates. That too turned out to be a fraud. I am never trusting online service again”.

 

COVID-19, a catalyst for the E-Commerce Era

As the COVID-19 struck, a large number of consumers were left with no option but to buy online. Hence e-commerce platforms witnessed a skyrocketing graph of traffic and conversions. Because of COVID-19, the e-commerce businesses registered the following activities:

  • 25% to 35% increase in conversions
  • 8% to 15 % increase in online profit earned.
  • Around 200% increase in platform traffic

E-commerce marketers were offering discounts which further prompted the consumers in purchasing during times of uncertainty and crises.

A New Buying Behavior

Despite increasing traffic and more customers, the online shopping gave also opportunities to brands in which they rectified their flaws and glitches. This created a satisfactory experience among the consumers. The people have now become used to online shopping and this new behavior is less likely to change in the post COVID-19 world.

In the End, it’s a Blessing in Disguise

With a sudden rise in online shopping, the COVID-19 pandemic was seen by dramatic shifts of consumer buying behavior, many of whom are less likely to return back to visiting physical stores. The e-commerce industry does owe it to the COVID-19 pandemic despite its grave health consequences.

 

 

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