Topics In Demand
Notification
New

No notification found.

How COVID-19 Has Changed “The Future of eCommerce”
How COVID-19 Has Changed “The Future of eCommerce”

July 14, 2021

111

0

E-Commerce has already been part of a majority of people around the world for more than half a decade and the spread of Coronavirus has just only added more customers to the platform. With people forced to stay in the confines of their homes, the majority of shopping ranging from basic grocery items to medicines to toys for children to electronic items ranging from Mobile phones and computers are done online. All things being said le’s us now see in detail how Covid-19 has played out for the E-commerce Industry. 

1. Increase in the Number of Mobile shopping users 

The use of mobile platforms for the E-commerce industry has been a major par since 2017, and all the successful E-commerce websites offer Mobile Apps to their customers. All being said, Mobile app share is continuing to grow in the future with more and more people are more inclined towards using the app.

The reason related to this is increased interaction between the customers and the E-commerce site, better notifications, ease of tracking their product just through a single click on their phones hence providing an all-round experience of a website with various additional perks

From the perspective of conversion rates, Mobile Apps outperforms websites by 57%, which is a pretty enormous figure. Thus maintaining your app and providing an excellent UI will surely boost up your sales.

Mobile apps are used worldwide by businesses to provide clean, speedy, reliable, and user-specific results.

2. The Proliferation Of Remote Working 

The Pandemic has impacted the world in various ways. The shift of work from offices to remote working strategies has greatly impacted the general use of these technologies. With various benefits of having a remote worker for your company presents great advantages from increased efficiency to higher work satisfaction. The pandemic has created a new category of consumers and a new opportunity for the E-commerce Industry.

Numerous new opportunities, from fulfilling quality of life in home environments to providing essentials to the consumers have arisen. Also, Consumers will now be opting more for home delivery and takeout of the eatables which were earlier not a prevalent case. The big win here is for industries related to providing home delivery or products and to industries related to Groceries and food. 

3. Catering To New Demographics 

Since the starting of the pandemic, there has been a sharp increase in the sales and the revenue of online E-commerce portals. These industries have mainly risen because of the lockdown and limitation of people to go out.

But this does not only mean that individuals already using the technology have increased their spending on these platforms, but a large number of new consumers has also been added to these platforms and there has been a shift in the demographics to the consumer base of these portals.

Earlier, the Majority of users were young and now a large number of people from the age group of 40+ has been added to the user base. These users buy things from grocery items to general day-to-day use items electronic appliances and much more and companies should now cater their products according to the demands and needs of these new demographics as the majority of these users are still going to tag along even after the end of Covid-19.

4. The Rise In Sales Of Essential Goods

Although Coronavirus has badly impacted the world’s economy offline businesses, it has presented E-commerce platforms with great opportunities. As covid-19 regulations have forced a lot of businesses to shut down, people are greatly relying on n e-commerce portals to meet their day-to-day needs.

While all the other industries plunges and people not buying lifestyle enhancement products, the focus of these industries has been shifted to providing essential goods and items. And while the sales of lifestyle items have declined there has been a surge in the buying of grocery and food items through online portals.

Also with a new focus on the health rather than lifestyle, a lot of users are now buying items which will be more beneficial to health, thus opening new doors for the health-based product selling through E-commerce portals

5. Category-Based Demand

Another important aspect to look at is the change in consumer spending. There has been a paradigm shift in the tastes and preferences of the customers. According to the new survey, these are the top 5 spending patterns of the consumer’s Post-Covid

  • Buying wellness & healthcare products 
  • Buying preventive health products such as masks and sanitizers 
  • Stockpiling on pantry items 
  • Buying in bulk 
  • Fewer shopping trips

The shift in preferences calls upon the shift in the strategies of E-commerce websites and the alignment is necessary for and increased sales and better user experience.

Conclusion

The year 2020 has taught us that we need to be ready for times with unforeseen circumstances. The post-pandemic circumstances put E-commerce as the majority market shareholder of the retail market. 

  • Naturally! Online business is taking leaps forward and keeps on being the best option among online customers. 
  • For visionaries, eCommerce is a hotshot that each start-up is hoping to incorporate into each business fragment. 
  • It requires negligible exertion, in contrast to an actual store and selling items with brilliant odds of benefit.

That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


Ashish is a seasoned industry veteran and holds strong experience in Technology PreSales Customer Service and People Management

© Copyright nasscom. All Rights Reserved.