It won’t be too much of a stretch with the turn of the new year to say that the implications on eCommerce due to the Coronavirus (Covid-19) pandemic will have lasting effects that will perhaps bleed into the next decade. And as the world adapts to the changes it brings, many industries will have to restructure their methodologies to remain competitive. And with that, so will the rest of the workforce and hence, the consumer.
One such way a change in trend is observed in eCommerce has been through consumer shopping patterns. Whether it is through panic buying to the influx in online shopping, the things people buy is what’s rapidly evolving.
With lockdowns becoming the first response to dealing with the pandemic for major cities and countries alike, nonessential businesses find themselves in a tough bind. And as people restrict public movement, limiting shopping is becoming the new norm. This puts brands in a position to adapt and rethink their strategies to meet consumer requirements.
How the Coronavirus Impacted Ecommerce Revenue
As aforementioned, the decline in brick-and-mortar shopping can be evidenced due to a similar decline in public movement. This and social distancing have both contributed to the drop-off in many industries but has helped others too. This would generally indicate that eCommerce websites should be the primary source of shopping today. But is there any truth to the matter?
The fact of the matter is that while some industries have seen an influx in revenue, the trend in eCommerce sales hasn’t risen across the board. This is especially true for eCommerce stores that sell groceries and other household goods. JD.com, China’s largest online retailer, has seen sales of common household staples quadruple over the same period last year. And Engine conducted a survey showing that people have been spending an average of 10-30% more of their time online since the pandemic began.