It has been months since China declared its first case of COVID-19, and since then, the pandemic is in talks. The outbreak has spread massively impacting the behavior of the customers and the whole economy. From retailers, manufacturers, to brands, a sudden shift to the online business and dealing with the outcomes of the pandemic is the only option.
Coupang, South Korea’s largest eCommerce retailer, has seen sales spike by 30% since the coronavirus outbreak in February. The decreased trade in market during this pandemic have caused severe economic disruptions. But interestingly, where other businesses are struggling to cope up with the outbreak, one sector has been gathering all the opportunities to flourish its industry immensely and work effectively towards profitable growth and expansion.
Big brands like Amazon, Walmart, eBay, and Alibaba have widened their code of conduct and prioritized their operations. By increasing the warehouses, stocking their inventories, and delivering the essentials, keeping in mind the safety concerns, these brands have been countering with a positive approach.
According to the statistic reports, eCommerce in 2020 have raised their sales due to the impact of the outbreak. It clearly shows the changing behavior of the customers towards the online business and highlights the trending patterns that can be determined as per the situations. While the pandemic is a reason behind the sudden decline in the market for industries like travel, clothing, food, etc. who are struggling to cope up, the eCommerce industry is finding it easy to attain the demands of the customers with the necessities. The benefits of eCommerce have scaled up amazon online shopping attracting new customers every day.
Opportunities helping eCommerce to flourish during the outbreak:
Gathering the opportunities well and ensuring effective utilization of the resources, eCommerce business has been responding with a positive approach and working effectively throughout.
Shift to Online Purchases
People have been avoiding to step out of their houses. Grocery shops and public places have been isolated, resulting in the consumer to go online. A sudden shift to Amazon purchases is a benefit to the major online retailers.
Amazon has prioritized its code of conduct by delivering the essential items to the customers at their door-step. Ensuring the safety concerns, the brand is working effectively and helping its customers in difficult times. Online grocery delivery has increased Amazon’s online sales at a larger scale.
When the whole country is supposed to stay home, Amazon advertisements are making the online eCommerce marketing strategy of the brand easy to relate and convey their message to their audience. It will help the eCommerce industry to flourish and leave a positive impact on its customers.
Due to the pattern of re-ordering the same commodities from the existing customers as well as new ones, consumers’ shopping practices might get conditioned. It indicates that the customers may return to the same purchasing process even after the pandemic comes to an end.
Check out the strategies to flourish their e-Commerce growth in the long run.
The rising demand and supply chain of the customers asks for new ways to fulfill orders. To help the retailers and manufacturers expand their growth and business, and stay in the run for a longer-term, check out the few strategies that might work in their favor.
It is wiser to strategize and think about the post-pandemic situation. Scale your business and work towards the expansion while keeping in mind the evolving opportunities once the outbreak ends.
With the growing demands and purchases of the customers, innovation has one essential role to play. The new requirements of the customers will ask for new ways to fulfill them. While many brands will perform the defensive moves, focus on the emerging opportunities, and make sure to utilize them.
Build the Brand
Online marketing can be beneficial for the time being to spread awareness to the customers about your products and services. Boost your digital marketing strategies for customer engagement, keeping in mind the future of eCommerce opportunities.
Keeping the current scenario in mind, sustaining demand is a crucial step. Ensure to prepare the stock in advance, maintain and widen your inventory. Stay updated with the industry trends and plan your supply chain accordingly.
Shift your channels
Working with a mixed channel both for B2B or B2B is an effective way towards growth. If you’re working onsite only, switching your business online will help you a lot during this time and enable you to expand. For the ones who are already active on these platforms, utilizing additional market places will help them know the trend and techniques.
Know more about “How eCommerce outsourcing can help you win the sales bar.”
The lockdown led by coronavirus has affected eCommerce on the business level. Responding and strategizing landscape of the future of eCommerce, a chance to think at a higher perspective is all that is needed. For all those scaling their business, ensuring the future, and not considering the pandemic, just a phase will have a benefit in the longer run.