The Popularity and utility of E-commerce is not a new story, the area has seen rapidly expanding and consistent growth over the last decade. The COVID-19 Situation however has incredibly accelerated growth.
Online revenue as of April 2020 was up by nearly 70%, Australia post recorded and estimated 2.4 billion dollar e-commerce boost in the peak of COVID 19, and experts are predicting that we will see a permanent shift in the continuation of this trend in a post COVID world. All of this points to why this is the ideal time to either start or double down on your e-commerce efforts.
A business that is willing to courageously invest time and money in pivoting their businesses towards the behavioral changes of their customers, will dominate their industries and emerge as the market leaders in a post-pandemic world.
Huge Demand Increase for Essentials and Entertainment
COVID-19 has led to some major changes in business conditions for both B2B and B2C companies across the globe. The pandemic has rewired consumer habits, ways of thinking, as well as consumption methods. As history has proven time and time again from past pandemics, many of these habits and changes roll over when society returns to a new normal.
Online demand has particularly increased a few major categories such as:
- Online entertainment
- Food ordering via mobile apps and websites
- Personal care and cosmetics
- Sports and outdoors equipment
- Electronics/ IT compliances.
Why will these changes and crisis induced consumer behaviour and habits remain around for good?
- Convenience beats price as the #1 reason for online shopping
- The risk of a pandemic blowback leads to continued social distancing:
- Online Competition has intensified
- An increase in logistics and distribution capacities
- Many of the older generation have now discovered and adopted online behaviours.
Utilize Social Media
With people spending more time online and on there devices than ever before, it’s a great way to connect with not only existing but new business and bridge the gap between online and offline shopping. The following are just a few areas you can focus on:
- Pinterest for the promotion of products. Pinterest is one of the best options for selling physical products nowadays, many users visit the site to browse for inspiration. You can build traffic organically with pins and boards as well as by advertising on Pinterest and is likely an area that will be overlooked by your competitors.
- Social Media Paid Ads. Running targeted ads via Facebook, Instagram and other social media channels are sure to be one of your strongest strategies post-COVID, and a great way to drive traffic to your website or Mobile App.
- Engage with your followers. Through all your ongoing social media efforts it is crucial to stay connected to your followers in order to maximize your results. You should aim to regularly monitor all your channels and provide your customers with feedback on the most personal level possible.
Consumers will continue to embrace ecommerce
We hope the above has shed some light on some of the factors that will be increasing the way people do business post-COVID in the e-commerce sector. An increasing number of customers now appreciate the convenience of online shopping.
While restrictions imposed by COVID-19 may have made online shopping, food ordering, appointment booking etc even more appealing, this is actually a long-term trend.
In order for your business to utilise the most of it, you will need to continue to offer transparency, malleable policies and the convenience of multiple channels for your customers to do business with you