Have you given thought to how much the Corona crisis changed the world? A bit more than 2 years after it ‘hit us, we can definitely say that we were not prepared enough. But as we all know,
“every coin has two sides” and wherever there’s bad, there’s also some good!
The coronavirus pandemic has for sure left its marks on our lives, both in personal and professional matters. It’s been and (kind of) still is a time of uncertainty, anxiety, and sometimes even overcautiousness. All the restrictions and prohibitions, the health and economic crisis, the limitations in terms of our own lives – how could this not affect us in some way?
Well, if we, as people, could not think of many positive sides of Covid, there were a few business fields that were on the top during the pandemic. It’s no big surprise that one of those business sectors is e-commerce. Electronic business, a.k.a. e-business is, of course, not new to anyone. It’s a well-known practice of offering goods, services, and others, which has definitely been on the way up over the past decade. However, thanks to the virus the online branch managed to achieve huge progress and even come to the highest level. But how exactly did eCommerce change because of Covid 19? Let’s find out together!Simple Text going here
Consumers started behaving differentlyTitle goes here
On one hand, it seems strange that people can start to alter their ‘shopping behaviour’ and brand-new trends will appear because of an event like Coronavirus. However, on the other hand, it seems like the most normal thing. Just think about it! We were suddenly forced to stay home and just as expected, being online was the only thing that could make us survive.
It all started with the home office equipment – more and more people had to turn their bedroom or living room into a comfortable working area. To do this, they went, of course, online, and this is how tech started selling out rapidly.
Then there was the need to move – well, sitting in front of the computer isn’t for everybody. A good side of closing the gyms was that we started thinking more about alternative ways to stay fit. Did you know it’s said that fitness products met such great sales growth, which has hardly been seen before?
Let’s not forget about entertainment! Cafés, restaurants, bars, nightclubs, etc. are something that we were all just dreaming about. Everything being closed for a non-defined period of time made us think outside the box. It turns out people are quite creative, which is proven by statistics. These show that a variety of home entertainment companies have also increased their sales with an immense speed.
What’s even more intriguing is that even though supermarkets were not closed (can you imagine what would it be if they were?), grocery businesses have started ‘glowing’ as well. It turns out we also became a little bit spoilt with Covid, knowing that we can have our food and groceries delivered right at the doorstep. Research shows that grocery e-commerce growth is expected to continue its expansion, while other fields may gradually start to go back to ‘the old normal’.
Clients’ loyalty dropped a lot
‘Why?’, you may ask. The truth is, Covid changed the way businesses work and this was for sure a sign that something is going to overturn in customers as well. Studies show that consumers’ loyalty is not the same anymore. People simply don’t trust the companies they used to buy from, and this is why they have started searching for alternative brands that can fulfill their needs and expectations.
Let’s admit it – ‘it’s all about the money ‘. OK, not all of it but maybe a big part of what turned things upside down are namely stock prices. It’s no secret that the pandemic was the main reason for many companies’ financial struggles. This, of course, has led to brands undercutting prices and indirectly declaring a price war on competitors. Clients have thus begun deal hunting, searching for the best bargain and conditions. And by ‘conditions’ we mean what the brand can offer to the customer except for a low price. Things like free delivery and returns that are free of charge, and coupon codes were definitely like a magnet for the consumers.