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Wednesday, August 5, 2020
Home Business Impact of COVID-19 on eCommerce businesses

Impact of COVID-19 on eCommerce businesses

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Before COVID-19, eCommerce businesses around the world were gaining a good amount of momentum. Many small business owners were making a profit from the online market. However, the lockdown, and ongoing trouble caused by this pandemic has sent eCommerce businesses off balance.

Now, there are many limitations, and doubts on “what” to buy and “when” to buy. Most consumers are watchful on products that are not classified as essentials. Also, when the number of functional delivery agencies coming down – shipping orders is a challenge for any eCommerce business. Yet, life needs to go on. And, eCommerce businesses like every other venture needs to get on track.

Related post: How Coronavirus Impact on Business Export

Before the Pandemic

online shopping

Before COVID-19, the attitude towards eCommerce businesses was very exciting. People who want to stay at the convenience of their homes, and make purchases – were granted a great relief. Whether it was a recreational item, or basic groceries – there were many online brands to help. But, the pandemic has now created a “big” shift. Customers think twice and behave differently with the sound of an eCommerce business. Today, most consumers choose to buy only essentials and important medicines from the internet. No one is willing to spend beyond necessities. This has introduced many opportunities and challenges to eCommerce businesses.

Also Read: Ensuring Business Continuity Amid the COVID-19 Outbreak

The prediction!

Market studies before the pandemic revealed that the eCommerce industry will be worth more than 200 billion USD in countries like India. Studies after the outbreak reveal that this goal will be reached at a faster pace. When compared with the original prediction, consumers will opt for online deliveries overstepping outdoors. If your eCommerce business is able to meet this demand, you will have a better chance of making revenue. After all, it is crucial for every business to adapt and respond appropriately to COVID-19. Else, the survival of the business will become a major question.

Also Read: Five challenges faced by eCommerce businesses around the world

The decline!

Now, this doesn’t mean that the eCommerce industry is going to flourish in the upcoming days. There are many hidden, and known challenges. When Digital Commerce conducted a survey in the month of March, a majority of eCommerce businesses felt a strong drop in sales. Nearly 50 percent of the businesses declared a shift in confidence amongst customers. Also, many eCommerce businesses struggled with minimal staff. They couldn’t attend to existing orders.

To be more precise. E-commerce giants like Amazon had to suspend the delivery of the products and stick to essentials. Every eCommerce business is bound to suffer a logistical and staff crisis because of COVID-19.

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