Every business is right now thinking on how to deal with the current economic downturn.COVID-19 pandemic has tremendously changed human life globally. There is no doubt that COVID-19 is going to mark a “ Before and After “ moments and make long- lasting implications. However, since we are not sure when this outbreak will get to an end, world is now adopting new operational ways. You could find a drastic retardation in businesses globally due to the outbreak. And Ecommerce is not an exception.
Ecommerce industry covers across large range of categories with wide range of products. A mixed response is seen in ecommerce industry. You could see a growth and decline in ecommerce industry since pandemic has made positive and negative impacts. To support customers ecommerce solutions like shopify, magento, bigcommerce and others have come with new offers.
Social distancing has became a new norm and a shift in consumer behaviour has occurred. More consumers tendto use online shopping for their daily needs. A rapid increase in demand for groceries category is found. At the same time non essential businesses are asked to shut down, as more and more places are getting lockdown. Data shows that shopping behaviour of men and women have also changed. Women seemed to be more conscious on the effects of COVID -19, where men shops more online to avoid in store purchases.
As per Common Thread collective, ecommerce performance is not steady generally. A significant growth can be seen in some industries. You could find a huge spike in grocery ecommerce. Sales are up for grocery ecommerce due to behavioural changes of consumers occurred due to long-term lockdown. After gathering data from their merchants, as per Shipbob they have experienced an increase of 18.8% in online sales for groceries i.e. food and beverages and a downfall of 20% of sales in fashion and apparel month over month.
Compared to 2019, ecommerce order volume is increased by 50%. But due to the limitations and regulations, shipping delays occur and it takes more time to fulfil the orders. To manage the shopping surge Walmart, Amazon has hired a mass amount of employees.
In response to new social distancing norms, popular ecommerce solutions Shopify has taken actions to support their merchants including extending the free trial, gifts cards for all merchants, local in-store pick up and delivery for POS merchants and providing online resources to merchants. Another ecommerce solution Magento has also
came up to help their solutions partners, customers by providing resources to support them.
How could your brand can alleviate the situation? Let‘s
Choose the best ecommerce solution
Choose the best ecommerce solution platform to maximize your business opportunities. Consider the factors that are important and select the one which will work better for your business and can give more traffic and excellent shopping experience.
Be in touch with your customers
Even though it’s a downturn time, your ecommerce should be active. Be in contact with your customers. Send them emails, newsletters and let them know how much you care for them.
Switch your Ad budget
Rather than creating new campaigns it’s better to extend the ad you are running. People spend more time ( an average increase of 30%) online since they are being homebound. So you could spend your ad budget on video platforms like television and YouTube.
Transform your Mobile apps to PWA
PWA stands for Progressive Web App. A mobile friendly app is not enough to alleviate the situation. Transform your mobile apps to PWA. It runs within the browser, still feels like an app. Using PWA, customers can interact more with your ecommerce site.
Remain updated with the latest news. Be in touch with the suppliers. Make sure you follow all lockdown regulations. Also make sure your products are safe from the virus during shipment.
The impact of the COVID -19 pandemic varies depending on your ecommerce industry. Adapt best tactics to bounce back from this downturn. Embrace the shift in consumer behaviour and continue supporting them for their own needs. If you are not having a digital storefront for your business with the ecommerce solution which is user friendly, mobile friendly and less sophisticated.
Well, that’s it! If you haven’t seen our solutions yet, go ahead and check out our webinar video on YouTube or write to us at firstname.lastname@example.org for a FREE 1-Hour consultation on how you can leverage eCommerce solutions for your business.