Category : Digital Marketing
COVID-19 has caused a major economic shock to the Globe. This crisis duration plays a central role in the total potential impact. Due to this a vast number of enterprises had temporarily shut down and laid-off workers over the first several weeks of the crisis. The impact on business disruptions in the coming months will depend both on the length of the crisis and on the financial fragility of firms. The central role of the demand shock highlights the challenges in regulating the financial shock caused by COVID-19.
COVID-19 disruptions do not affect all businesses equally. Some are deemed essential and remained open, while others were forcibly shut down. Some businesses could reduce contagion risk among employees through a shift to remote work while other businesses were ill-equipped for the transition. COVID 19 appeared to be an existential threat to some businesses, Variety of reasons related to both the underlying nature of the business
Coronavirus (COVID 19) impacts the whole e-commerce industry and has changed the nature of business. According to research 52% of consumers avoid going brick and mortar shopping and crowded areas. Furthermore, 36% avoid brick and mortar shopping until they get a coronavirus vaccine. Impact of COVID 19 on E-Commerce affects differently on different products, this means the impact of COVID-19 in Ecommerce on several products is very high and on some products less impact.
The overall sale of e-commerce raised due to this COVID 19, people avoiding to go out, keeping social distance, and buying from home, working from home and Walmart grocery e-commerce increases 74%. Impact of COVID 19 on Ecommerce ultimately increased the media usage time on Facebook. Google updated their features to connect more people in a single time such as Facebook introducing messengers for 44 people that are competing with Zoom.
During the pandemic, the largest buying products are toilet paper, disposable gloves, freezer, bidet, kettlebells, bread machine, paint by numbers, puzzle, peloton, coloring book, air purifier, treadmill, stationary bike, yoga mat, refrigerator, an exercise ball and exercise equipment. The Impact of COVID 19 on E-commerce has raised the buyers in developed and developing countries such as Malaysia, Singapore, Thailand, and Pakistan. In Pakistan e-commerce was started in the 2000s but very poor, just 3% of the whole population was buying online, but now in a pandemic, it is reported that e-commerce in Pakistan increased by 10% in daily record and 15% rise in internet users. 30-40% surge the demands of products. For quick service, food pandas are launched to provide ease to people. It is good to hope for Pakistan in terms of e-commerce that the e-commerce trend is moving upward.
COVID-19 has a remarkable impact on e-commerce in the world in some cases, but overall e-commerce is growing rapidly because of the virus. Coronavirus compelled customers to use the internet and make it a habit in their daily routine. Furthermore, many challenges facing retailers in e-commerce, such as extending the delivery time, the difficulty faced during movement control, social distance, and lockdown. The process of shipment and supply is quite slow now, but people are still buying because they do not have another alternative.
Hence, people are moving towards technology due to viruses. Furthermore, some products are very high in demand in the market. Unexpectedly retailers cannot fulfill the customer’s demands like hand sanitizers, toilet papers, disposable gloves, grocery, and dairy products. On the other hand, the negative effect of COVID-19 on the tourism industry, flights are in loss, international trading is very slow and stuck in their position.
Due to the Pandemic or Impact of Coronavirus (COVID 19) on E-commerce increases the trends for consumers to buy directly from brands or Company websites. Also, Retails shops or Brands are boosting their online presence and choosing various approaches to connect with consumers. As per the research (Record) In the past year, there has been a significant development of 60 percent for brands developing their websites, which leads to boosting self-shipped orders.
As the brands have created their own websites, they started selling on the marketplace and bring the majority of the order volume. This finds increasing the percentage of consumers shopping directly from the brand's websites at a much faster pace than the marketplace. The top 3 segments that have a significant impact on the eCommerce industry and have seen a boosting penetration of D2C brands are Fashion, Beauty, Wellness, and the Agricultural and FMCG sector.
Upstanding impact on E-commerce due to the COVID 19 (Coronavirus) E-commerce company has invested extensively to reduce COD (Cash on Delivery). There has been a footfall of 27% in 2019 to 20% percent in 2020 on cash on delivery for prepaid orders.
The total return has reduced from 12% in 2019 to 11% in 2020. After the significant reduction in COD return, there has been almost 2X return on prepaid orders.
This change can be accredited to boosting technology adoption, enhancing last-mile delivery, and customer-centric return policies.
Impact of coronavirus (Covid 19) on Amazon (E-commerce platform) has phenomenon increased, As per the Q3, Amazon Financial report and confirmed the company net sales grew 37% worldwide, totaling $96.1 billion for the period, North America net sales grew up by 39% and international sales rose by 37%. Subscription service of sales grew 33% year on year, AWS (Amazon web services) grew by 29%.
Comparatively, with the same quarter the year before, the total profit grew by 200% to $6.3 billion, Beating Amazon's previous record of 5.2$ billion. Looking forward to Q4 sales as expected to grow between $113-122 billion.
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