One of the scariest topics that everyone is talking about is the outbreak of novel corona virus. Currently, if we quickly look into some numbers, there are more than 7 million active cases and more than 4 lakh deaths all around the world. In a bid to flatten this curve, the Indian government declared a complete lockdown i.e. 1.3 billion people locked inside their homes. While the wind of COVID-19 is blowing against many aspects of the carefully knitted human civilization, there are certain domains that have been blown ahead of their times like food industry, hospitality and tourism, automobile, aviation and many more. One more such domain is that of e-commerce. An entire business management system is disturbed because of this virus. Consumers have drawn a line between want and need. As COVID-19 continues, the impact on the e-commerce continues to fluctuate depending upon the industry. Some of the strongest economies in the world are struggling to get back on track. While e-commerce has proved itself essential after the outbreak of this deadly virus, there are still some sectors of it which are trying hard to cope with the situation. Though it is impossible to predict the full impact of corona virus on e-commerce and online growth rates, it will depend upon the niche and the duration of future social distancing. Below are some points that will be affected after COVID-19.
1. An inflow of online shopping
As traditional street-side business has completely shut down, people are taking their business online. Somehow the sales in some sectors have gone up leading to the shortage of several products. Due to the sudden declared lockdown, panic buying of house hold products became a trend. This eventually led to shortage on a larger scale. People are switching from malls and supermarkets to ecommerce for everyday commodities, the sales of companies like BigBasket and Grofers have gone up and will continue to be that way in the coming time as well. CouponzGuru is also providing people good deals in these tough times to make sure that the customers do not suffer
2. Efficiency and Time Saving Power is Here to Stay
Online shopping has a benefit that you don’t have to go out to shop and waste time; everything is delivered at your doorstep. Even small stores are giving home delivery. In the coming time people will prefer buying online rather than from stores.
On the other hand, quarantine has also shown the worst side of everything so far. It has alleviated the severe time shortages that so many people have faced in this entire time. Since people are unwilling to go out to shop as the fear of getting sick remains constant, insufficient labor strength is still an issue. Though online grocery stores are receiving orders on a very large scale, the manpower is not sufficient to deliver them on time.
3. Increase in corona virus related ecommerce store
The shopping habits and consumer behavior is changing rapidly. To stay competitive, businesses have started to sell what’s important presently. Some e-commerce sellers are adding soaps, sanitizer and other hygienic products to meet consumer demands.
4. Retailers shifting towards selling essential goods
Since people are still buying essential commodities, a lot of retailers selling non essentials like jewellery, clothes and foot wears have faced a huge loss. This is likely to have a long term impact on them. So, to bear this, retailers have started to sell essential goods. They are using technology to be back in the game. This may seem tough but there is still a ray of hope. Since the attitude of buyers is changing, the retail industry is also expecting a change in the nearby future.
5. Digital transformation of local kirana shops
These shops have played a crucial role in this tough time. We know these kirana shops are the life blood of people. Now due to the outbreak of the virus people are looking for alternatives so that they don’t have to be in contact with anyone. With the kirana shops digitizing and starting to deliver online, people are finding it even more convenient to have everything on the tips of their fingers. Local shops are now confined to a radius of a few kilometers in which they can deliver. They are even offering contactless deliveries along with sanitization of the goods that you have ordered. It helps to stop the spread of the virus and the fear among people. Digital transformation of local kirana shops has benefitted both; the consumers and the retailers.
The future of e-commerce is unfolding now with COVID-19 forcing the very many people who previously relied on their street’s kirana shops and their friend’s friend shops for non-essential items to clutter the growing user lists of e-commerce companions. So, post COVID will these people go back to their old ways of garnering items or will the comfort, ease and the discounts rope them into staying within the world of e-commerce is still a question.
