Factors That Will Drive E-commerce Business In The Post COVID-19 Era

Factors That Will Drive E-commerce Business In The Post COVID-19 Era
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Covid-19 has changed our behavior toward online channels, and the shifts are likely to stick post-pandemic. However, the pandemic has hastened the growth of this convenience movement for businesses of every size. Most of the countries across the globe went into strict lockdown, pushing many businesses to temporarily shut down. Although governments are now gradually unwinding restrictions, the future is still unpredictable. Even shopping stores that are resuming have enforced restrictions such as social distancing, the wearing of masks, etc. When traditional shopping becomes complex, or may even be risky, people are frequently inclined to shop online. Online revenue growth as of April 2020 was up 68%. As per experts, this trend will continue in the post-quarantine era. We have suggested some initiatives that are important for business leaders to either start or double down on your e-commerce efforts.

The New Normal 

Covid-19 has completely changed people’s way of buying items. People are now hesitant to step out of their homes and go to markets where there isn’t enough social distancing being followed. Although stores are resuming now but doesn’t mean people will suddenly stop the fairly addictive, and comforting feeling of shopping online. Even after the lockdown, people will be more careful and many will still prefer shopping online.E-commerce provides them the liberty to place orders one-handed from the device that is likely in their hand and even safe returns. Moreover, essentials like sanitizers, masks that became nonexistent in shops during lockdown could be ordered or pre-ordered online.

Better Social Media Presence

Social media not only bridges the gap between online and offline shopping but it also provides a wonderful opportunity for businesses to stay connected with their customers. Businesses can advertise their products on social media platforms such as Facebook, Instagram, Youtube, etc, and can boost their traffic and revenue. Using Pinterest could also help build up organic traffic as many users use Pinterest for inspiration and ideas. Moreover, it’s equally important for businesses to stay connected with their followers. Listen to their feedback and provide prompt resolutions of their issues.

Easy Contactless Payments

With health experts advising to use contactless payment methods or smartphone payments while shopping to help reduce the risk of spreading the coronavirus, the COVID-19 pandemic proved to drive faster adoption of digital payments. Consumers are becoming savvier with technology and increasingly ready to embrace contactless payments and digital wallets. And businesses are responding to that trend. Businesses are introducing more convenient digital payment methods to flatten the curve while also offering certain advantages using this payment option.  This trend is expected to rise as the world adjusts to social distancing guidelines amid the pandemic.

Restructuring Inventory Management And Supply Chain

Covid-19 has dramatically changed the buying choices of the consumers, the product purchasing categories are also changing. In response to the new buying choices, the industry is observing a dramatic restructuring of the supply chain order in which e-commerce has traditionally performed. Businesses are ramping up the diversification and continuity of their supply chains and inventory management to maintain some resemblance of normalcy during this pandemic. While some businesses have struggled significantly from the lack of supply of critical items, businesses are restructuring their sourcing strategy, supplier network, and supply chain strategy to build resilience and respond to the new normal.

Level Up The Customer Experience:

Businesses must step into the customer’s shoes and provide them with simple and interactive design to create delightful shopping experiences across devices leveraging the latest technological innovation. You must ensure that they should be able to search the products and digitally connected with your e-commerce channel and won’t get any obstacles while making their purchases. Consumers who had never shopped online before explored online shopping options and recognized that it is the safest option to shop whatever they want, without stepping out of their homes during this pandemic.

Final Thoughts

More and more, customers are now appreciating the convenience of online shopping. While the restrictions imposed during lockdown may have made online shopping even more fascinating, this is actually a long-term trend that’s likely to continue well into the post-pandemic era. Since consumers are avoiding to visit markets and reach the brands in large numbers for the coming months, it has become very essential for the brands to reach the consumers. The digital medium has become the only platform for brand visibility & awareness and to make the most of this, businesses need to offer transparency, flexible policies, and convenient shopping experience for shoppers.

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