COVID 19 has turned the world upside down. Everywhere you see more and more small businesses are shutting. What is even more sad is knowing some of these Ecommerce Business will never revive.
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Impact of COVID 19 – Prioritizing Digital Ecommerce
Surprisingly, this pandemic has opened a world of opportunities for ecommerce businesses. A lot of countries in the world are under some form of lockdown and this has impacted the online shopping behavior and habits, largely. More and more people are preferring online stores for buying groceries, medicines, and other essentials. In fact, this new normal has also led to an increase in online subscriptions of OTT platforms like Amazon Prime, Netflix, Disney+Hotstar etc.
Currently, as consumers increasingly use digital mediums to prepare for a possible emergency, online retailers need to ensure fast, smooth and secure experiences on their ecommerce websites and mobile applications.
Prepare your Ecommerce Business for Unexpected Increase in Demand
The future of ecommerce looks promising. In fact, a lot of industries are also going online to sell their products and services. The psychological fear of coronavirus will lead to digital transformation of local shops even after this virus vanishes. This move is definitely going to benefit consumers, as they will be left with wider choices at competitive pricing.
In an ever growing eCommerce market where many retailers are selling identical products, delivering top notch customer experience is one of the biggest differentiation to stand the competition. Intuitive user experience, fair pricing, quality product and support, safe and secure payment are few of the ways to ensure stellar digital consumer experience. However, the infrastructure that makes it all possible remains the top priority.
No customer would like to wait around for a slow-loading website or payment gateways. This is the clear indication that the company has network and data security issues, and no one would want to put their data at risk. Hence, to cope with the high demand due to pandemic, e-retailers will have to invest in building and strengthening foundational infrastructure right to help their business prosper.
Logistics – The need of the hour
The ecommerce sector is sure to see a rise in their business if they consider giving end-to-end shopping experience to its consumers – from shopping to logistics. Hence, an ecommerce business will have to partner with logistic players that provide intelligent logistical solutions to reduce businesses’ time and cost.
Is it the right time to start an online business?
Across the world, brick-and-mortar stores are shutting as people fear coronavirus. They are shifting to digital mediums to shop. So, yes this could be the right opportunity for you to take your business online. However, you need to be a little thoughtful here.
In the current time, the demand for “nice-to-have” products have gone down. People are mostly buying daily essentials, healthcare supplies, wellness and safety products etc. So, now (more than ever) people are cautious about their safety and health. Hence, you need to prepare your business for this new normal – your messaging should focus on your customer’s well-being rather than directly talking about your product. How your product or service will benefit (without compromising on their safety) them should be your message.
The Bottom Line
Meeting your customer’s needs and requirements is more important today than ever; their experience with your Ecommerce Business at a time like this can make or break your brand.