COVID-19: Impact on eCommerce Business & How to Overcome
by Tech2Globe Web Solutions Web Portal & Software Development Company
As we all are aware of the factuality that Covid-19 cases and deaths are heightening to a great extent and this pandemic is considered to be out the most vicious to life and economy, there's a major impact this has caused explicitly to the e-commerce business. E-commerce this time is experiencing a huge fluctuation as some retailers are undergoing profits whereas some are just tipping down to enormous losses. The scenario revolves around the fact that many Ecommerce Business or Stores have seen an increase in sales and customers due to this Lockdown situation since people are adopting online shopping due to the restrictions. But there is more to this, quite a few stores have not seen many shifts towards profits. It's a muddled and uncertain situation for E-commerce.
Going into the depth of the topic it explains that it has both a good and bad version of itself like starting with the good effects -
Growth in Hygiene related items -
Hygiene products in Covid-19 are in substantial demand daily which accumulates items like sanitizer, masks, sprays, etc for safeguarding oneself and family. Therefore all the Ecommerce Businesses or Stores that deal with hygiene products and services are taking immense profits so much so that there is an 817% approximate increase in purchases.
Profile for online medicines store -
Businesses that work by offering online medicines have also seen a rise in their growth tremendously as people are buying and stocking up the cough and flu-related medicines to be on a safer point. The online purchases are noticed to have risen by 198% approximately in these hard times.
Heightening sales of Groceries -
Sales of groceries have also reached great heights principally for the non-perishable items like pasta, rice, and more. These items are of great help in these times and hence have seen a good growth of around 69%.
Categories that are having a bad time includes-
Fashion related commodities -
In these times consumers major focus is on the most vital items that are needed for survival. Therefore countless fashion brands have seen a gigantic downfall as they don't wish to trust the items which can be for some time delayed.
Technology related products -
E-commerce stores that succor at providing technology-related items like laptops, cell phones, chargers, and more have experienced substantial decreasing growth as people don't run after buying these products but indispensable items as their consumption can happen later when needed.
There is no manufacturing process that is being conducted in the factories due to the Covid-19 spread. Production and supply of nearly each and every item is on a standstill. Distribution channels are also struggling in just offering the essential items. As a consequence the e-commerce industries are also racking with pain and utmost loss, being on a complete verge of shutting down.
It was sensed that due to people staying up in their homes constantly there will be a leap up in the activities and transactions of e-commerce, but it wasn't the truth as people have wholly been uninterested in these specific times. People are all occupied in Covid-19 related news and announcements and being involved in caring for the family.
With being busy people are also more cautioned owing to the fact of how much havoc this virus has resulted in lives. The public is alarmed and petrified to come in touch with outside products as it may result in virus transmission. Directly it has carried out extensive deprivation for the e-commerce business.
Change in the customer's behavior, supply chain disruptions are also some of the grounds for the shrinking growth of businesses. All the instances are meant to bring unquestionable changes, then there's no point in such a big instance not leading to a gross loss. Some of the tips from e-commerce experts say that the industry will bring a pragmatic change in the customer consumption pattern by assisting them, we as a citizen just need to stop hoarding the items as it will badly affect someone who is in genuine need. The only tip is to be all together in the crisis.
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Created on Jun 19th 2020 03:02. Viewed 124 times.