How Will The Pandemic Impact The Future of E-commerce.

Coronavirus impact on eCommerce

As people have been required to isolate as much as possible to help prevent the spread of COVID-19, they have found that E-commerce isn't simply just for convenience anymore, it is now becoming an essential component of their regular shopping routines. You can purchase almost anything you need these days with online access and within minutes your order can be on the way to your doorstep. With retailers of all sizes being closed or offering limited access to the public, it only makes sense that there has been a major increase in online purchases recently. Now with safety being a big concern on everyone's mind, this trend is very likely to become the 'new norm' for even more consumers after the pandemic.

Convenience vs. Urgency

After witnessing first hand the empty shelves in our local shopping centers, we can see just how much urgency factors into making purchases. With a large volume of new users migrating to online shopping during this crisis, now online retailers are finding themselves struggling to keep up with demand. Although the panic buying behavior and consumer stockpiling urgency has decreased as the chaos from coronavirus subsides, there is now a whole new crop of consumers who are more comfortable and confident with purchasing the products they need online. This increase in potential online shoppers will also build confidence for those looking to enter the E-commerce space.

'No Contact' Transactions

Yes, that's a term you will probably be hearing more and more now. Since the circulation of cash poses a greater risk for spreading the virus there will be an increase in demand for contactless payment options. Businesses with E-commerce already in place are a step ahead with the ability to do secure transactions from a computer or a smartphone. They need to be actively communicating and promoting any safety measures they are implementing to remind their customers how safe it is to buy their products -- from purchase to delivery.

Shopping Habits Are Shifting

Not surprising news, but statistics indicate a shift in demand for certain products and services during the pandemic. This self-isolation period has not only changed how consumers shop, it has also influenced what consumers are seeking to purchase. With essential goods (food beverages, home supplies) still the frontrunner in online shopping, there has been a spike in spending on items that help people make their time during quarantine as comfortable and productive as possible. Items In categories such as electronics, housewares, and office supplies are now being referred to collectively as the 'new essentials'.

Although there has been a steady increase in E-commerce sales year-over-year, there is no doubt that the current situation has accelerated our world to change in many ways. Based on recent data and trends, many marketing experts feel that E-commerce businesses will benefit from the coronavirus pandemic in the long run. The longer people need to stay at home, the more consumers will adapt to making purchases online and we will see an even greater shift away from the in-store shopping experience and continuing toward a more convenient option. Advancements in logistics will also play a significant role in this transformation, making the online shopping experience more alluring than ever.

Are you ready to rethink your E-commerce strategy? If you need help with your E-commerce strategy in response to COVID-19 please contact Corporate Communications, Inc. at 585.262.3430 or connect with us online www.corporatecomm.com/contact for more information about our services.

       

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