COVID – 19 has been declared as a pandemic by the WHO. Livelihoods along with many lives are in danger. The world economy has been hit as the novel Coronavirus spreads across continents. From the International Cannes Festival to Facebook’s biggest event of the year – F8, all major events across the world have been pushed or canceled. While most offices around the globe are slowing down and directing their employees to work from home, the e-commerce sector is witnessing a steep spike in their business. To quote, virus-related products such as sanitizers, soaps, tissues, masks and more have witnessed a whopping 817% hike in demand. On the other hand, the demand for cold and flu products has increased by 198%.
With lockdowns and social isolation being the only solution, people are being compelled to stay indoors. They have two options – to personally visit the supermarket or order products online. What happens when a person goes to the shop? Due to the pandemic fear, buyers tend to hoard. But when the supply is affected and limited, what does this mean? It means that the shelves of the supermarket will get empty sooner and some who need stuff will be left helpless. To address this, during the on-going Coronavirus outbreak, the international chain of supermarkets, Target, has put an upper cap on the number of products one could purchase for specific items. Several e-commerce sites are deploying the same mechanism. Many stores in India and abroad have pulled their shutters down and are only accepting online orders. Thus, the load on the e-commerce sector is immense right now.
Also read: Progressive Web Apps Are The Future.
How e-commerce businesses should adapt and react to Coronavirus(COVID-19)?
The E-commerce industry in coronavirus outbreak:
It takes a lot of manpower to keep the e-commerce business going. Right from managing the warehouse to delivering the goods at your doorstep, there are a lot of human interventions. Understandably so, there is going to delay in deliveries, out-of-stock items, and more. Now is the time when we’ll know if big brands like Amazon can handle such quantum of orders and how well are, they helping the world fight the recent pandemic outbreak.
What should e-commerce brands do?
- Delivery and supply chain model: This focuses on the procurement of raw, manufacturing of the product, distribution of the product in spite of location issues until the product reaches the consumer. The current nationwide shutdown in India has forced brands to react and find viable solutions to ensure that this system is in place and deliveries are being made in time, without any life threat to all the involved parties.
- Use of technology like AR and VR: Les Petits Joueurs, an Italian producer of luxury bags and shoes, launched a full virtual showroom with Augmented Reality (AR) options to try on every product. In just the last few days, they have observed more on-line as a result of this innovation. This innovation has become the need of the hour during the on-going crisis. Many organizations have allowed their employees to work from home and they manage to carry on their seamlessly because of this technology.
- Consumer engagement: Right now, most people are locked down in their houses, thus, they’ve more time in hand. As a result, their online activity has plunged. This provides businesses with a more captive audience – an audience that’s willing to engage.
- Evolve the marketing strategy: Nordstrom and Target sent mailers to subscribers outlining the essential hygiene measures. The key message is that their stores are clean and safe to enter.
- Awareness is the need of the hour. E-commerce businesses must let their customers know what it takes to get an order delivered at their doorstep. Thus, urging people to only order things which they really ‘need’.
- Educating their staff is the next crucial thing. Their delivery agents are going to meet many strangers in a day. It is important to teach them the precautionary measures that one must take during such an outbreak. This will help in containing the virus while ensuring the safety of themselves as well as the customers.
Reach out to Adapty and we will provide you easy e-commerce solutions that can help you strengthen your business amidst the COVID-19 pandemic.
|“People are gradually moving from offline shopping to online and the habit won’t disappear when the epidemic is over. This will have a very positive impact on the whole eCommerce industry.” Zhong Zhenshan, Vice-president of emerging technology research, IDC.|
How will coronavirus (COVID-19) impact the economy?
Some experts say that we’re nearing a recession. And with this outbreak, the economy might come to a standstill. Although, after a while, it is sure to rise back, but Coronavirus is sure to leave a dent. But the e-commerce sector can help in minimizing its impact on the world economy. The good side is that e-commerce will ensure that the economy isn’t entirely disrupted like it was during the SARS outbreak in 2002 – 2003.
Also give a read to an interesting post by Adlibweb on how Coronavirus could impact the entire Digital Marketing industry.
Coronavirus(COVID-19) impact on e-commerce industries
China has already moved from post-crisis to recovery mode and soon, other countries are going to follow. E-commerce and digital marketing are going to be two very effective tools in recovering the business. Strengthen your e-commerce capabilities.
At Adapty, we believe that better eCommerce technology can help shape and improve the world of the future. Our eCommerce product ThyCart shines brightly during this tough time for entrepreneurs and Small-Medium Businesses. At ThyCart, we possess years of expertise in creating a robust e-commerce infrastructure for businesses. The company has helped several organizations launch their brands online and turn it into mega e-commerce platforms. The time to market that they offer is merely 2 weeks with no hidden charges. Thus, they are the most value-worthy partners for boosting your e-commerce business. Get in touch now.
- What coronavirus could mean for the global economy?
- How Chinese companies have responded to Coronavirus
- The coronavirus budget may be the way to reset retail
- The impact of the coronavirus on retail
- Coronavirus fears may drive U.S. eCommerce sales beyond 2020 projections