There is no wonder in saying that COVID 19 will be defined as the biggest event of 2020. It has completely changed the way people live and do the business.
The fact is eCommerce sales have risen to a whole new level in post-COVID 19 effects. The situation is changing rapidly in the way people shop these days. As most of the cities of the world have gone under lockdown, people from bulk buying to online shopping have completely adopted the new ways of shopping.
And, all these have led to the boom in the online sales i.e eCommerce. When every business got negative effects with COVID 19, eCommerce was the only business which had no time to rest in the lockdowns.
Henceforth, in this article, we will be going through some major changes that have come in the eCommerce business after the COVID 19 effects and what will be the future of mCommerce.
So, let’s deep dive into it!
Changes in Revenue of Various eCommerce Sector
To avoid getting infected with the COVID 19, social distance is being maintained, therefore it has naturally put off the brick and mortar shopping. People are buying their daily essentials online to take the utmost care from the coronavirus.
An average survey has found that people are spending 20-30% more online in comparison to the time before COVID. Some of the industries with the highest rise in the sales are as mentioned below.
Health & Safety Products
The fact is the health and safety products are being purchased online faster than they are being produced and restocked. According to the data, the purchase of masks and sanitizer has risen by 300% since COVID 19. The below-shown image will give you a better idea for the same.
For a while, we can stop shopping for other goods like clothes, shoes, etc. But how to survive without the daily essentials? And, that’s where people opted for online grocery shopping. Approximately, 250% rise is observed in the online sales of grocery from the third week of March. Grocery eCommerce is the one which observed the highest peak in all the eCommerce sectors.
eCommerce covers a wide range of categories except for grocery. And each of them has observed some increase their online percentage sales. The below-given chart shows the increase in the percentage-based of the eCommerce category.
Fashion & Apparel
People are in no way interested in shopping for clothes in person. And, that is the reason why traditional retailers are seeing a huge loss. But when it comes to online shopping, people are happily welcoming and enjoying it. Online apparel shopping has become a new trend these days.
Above all, eCommerce subscription services even observed a rise due to this pandemic. Usually, you will never observe a skyrocketing use in subscription services but now it has been possible. People are buying subscription services to get the advantages of buying goods online.
Generational Response To The Online Purchase
The responses to online purchasing are not the same for every generation. There are changes based on the mindset and different age groups. Let’s have a look into it.
Gen X & Boomers
Though, this generation is concerned about pandemic as well as the world’s economy they are not ready to change their shopping habits. They are slightly less into online shopping in comparison to the younger generation. For instance, only 24% of the Boomers and 34% of Gen X were concerned about online shopping, and it is not even half of the percentage.
Gen Z and Millenials
These generations are not only worried about the coronavirus, but they even care for the economy. Therefore, they are easily accepting the changing behaviours of the shopping by shifting to the online thing.
There was a survey done in the US and UK which got the results like 96% of the Gen Z and Millenials have seamlessly shifted to online shopping. Their concern for the coronavirus was letting them instantly change their shopping behaviour.
The Parting Thoughts
We can say that currently, we all are living into the flux.
Coming straight to the point, the pandemic is not over yet and to keep your business alive it is crucial to bring it online. Just like eCommerce, you can expect amazing results for your online services too. As it is the era of digitization which caught the high speed especially after the COVID 19 effects. Just as the future of mCommerce is bright, you can make your business shine.
It is always advisable to change the strategy and response of your business according to the situation, especially when there are some deadly events like COVID 19.
Mahil Jasani is the CEO at the aPurple. He is a technological nerd who loves writing about trending technologies. In spare time, you’ll find him digging deep into the new innovations and startups.