How Has Covid-19 Impacted Our Buying Behaviour Through e-Commerce
The pandemic covid-19 spread across the world has stopped human life and affected everything in the worst senses. We all got locked in our homes, and the normal life of people around the world has been stopped for more than a year now.
During this time, no one stops to shop for the essential items and other products of their need and use. But if we look at the shopping behaviour of humans, it has come to a transformation. We all have rarely visited the markets physically to shop the products. During the pandemic, our preference to shop has been changed. We prefer to shop online or home deliveries.
The situation is rapidly changing. The number of people deemed safe to gather in a single place has dwindled from thousands to hundreds to ten. Restaurants, bars, movie theatres, and gyms in many major cities are shutting down. Meanwhile, many office workers are facing new challenges of working remotely full time.
Can we think about what will be our shopping behaviours in the near or distant future?
Impact of Covid-19 on eCommerce
Ecommerce is already one of the fastest-growing industries across the world. The ecommerce industry is facing a revolution; online shoppers and ecommerce have increased up to 60% in the last decade.
Covid-19, the pandemic has transformed ecommerce, there is boom development in the sales of ecommerce platforms. The coronavirus has put ecommerce at the forefront of retails. According to the latest digital ecommerce analyses, ecommerce sales have increased up to 44% in the last year 2020; before the year 2020, the sales of ecommerce in 2019 were 21%.
Covid-19 had worked as an accelerator to the sales of ecommerce platforms. According to the source, flip kart, one of the well-renowned ecommerce websites, had closed its financial year on March 31st, 2020, with a 30% loss. But this year, in 2021, at the end of the financial year. The company has reported a profit of almost 40% as the shoppers prefer to buy every essential to luxurious things online. The shoppers are avoiding physical shopping to protect themselves from the virus.
Scope in e-Commerce Business
As the sales and online shoppers are increasing and ecommerce are facing a rapid change. The opportunities and scope in the ecommerce business for everyone expand. Suppose you are a social store, physical store or just a creative mind planning to start their online start-up. Then this is the most accurate time to target online shoppers. As online shoppers are increasing, the demand for products and different ecommerce platforms is also increasing.
The covid-19 had accelerated ecommerce business with new firms, customers and types of products. It has provided customers with access to a significant variety of products from their homes’ convenience and safety. It has enabled firms to continue operating despite contact restrictions and other confinement measures.
The Covid-19 crisis has enhanced dynamism in e-commerce across the countries. It has expanded the scope of e-commerce, including through new firms, consumer segments (e.g., elderly) and products (e.g., groceries). During this, e-commerce transactions in many countries have partly shifted from luxury goods and services to everyday necessities and things. Many individuals are choosing the ecommerce platform to fulfill the basic needs rather than going physically.
Some of these changes in e-commerce will likely stay for a long time. The possibilities of the arrival of new waves of the virus indicate the new purchasing habits of shoppers, and the ecommerce start-ups will continue to grow.
The pandemic has shut down many businesses and start-ups; on the other hand, the digital transformation allows people to avail themselves of the opportunity and start a new ecommerce business; the digital world is welcoming the creative minds with new products, services and facilities for the online shoppers.
As we are well equipped with details of how ecommerce is impacting our shopping behaviors during covid-19. Ecommerce is emerging with omni-channel sales models or new modes of delivery to hold on to the shoppers. As ecommerce needs more planning and technology to meet the present scenario’s needs, it opens up many creative minds opportunities to avail.