Coronavirus(COVID19) is an infectious disease caused by newly discovered virus.It causes illness in human as well as animals. The infections are from mild to severe symptoms and in some cases it leads to fatal. Coronavirus(COVID 19) are declared as pandemic and it is now one of the most serious problem all over the world.
Coronavirus(COVID19) has not only affected the health of the people but also affected the many job losses in various sector around the world.As many as 41million people have lost their jobs in India due to this pandemic while construction and farm sector workers accounted for more job losses. Coronavirus are hitting economic activity. Due to lockdown across the India many businesses have affected which is the result of unemployment crisis.Many experts says in India it will take long time to recover the situation and in addition very difficult.
Although it has affected all sectors of the country but here we will discuss about Ecommerce like Amazon,Flipkart etc.
Are their situations same as other sectors or different how….let continues…..
The influence of COVID 19 on Ecommerce businesses is likely to be more positive.People are opting the online selling or buying because fear of getting sick or get infected by coronavirus. The reason behind switching to online shopping is maintain social distancing. That’s why Ecommerce sector is making progress by leaps and bounds. The pandemic has accelerated consumer shift towards Ecommerce.
Ecommerce positive impacts:
As people don’t want to go out they are purchasing low ticket item from amzon and flipkart and other platforms which they would usually buy from local market.that why the order volume has increased which leads to high sales.
According to industry analyst market opportunities for online ecommerce are expected to increase $200 billion by 2028 as compared to $30 billion in 2018.
One study also suggest that shopping in India has also shifted online as 86% of people feel that hygiene concerns are here to stay. It said that e-commerce is on the rise with 49% of Indians planning to make more purchases online.
“Consumers now want on-demand products and services – whether it’s food delivery, groceries, fitness courses, telemedicine, conferencing, learning or entertainment. This demand and these expectations will continue to drive e-commerce long after COVID-19 subsides.
One of the main drivers of ecommerce in corona age is the adoption of digital first approach. As we know top 5 cities of India were the most prominent cities for online shopping but now India is changing and people from Tier II and Tier III cities are also opting for online shopping. Ecommerce saw 17% growth post lockdown driven by demand from Tier III cities. So ecommerce numbers of volumes of order are increasing which further more increase in pandemic. As people are maintaining social distancing an ecommerce industry witnessing a surge in first time online shoppers and this change will provide a significant boost in the long run.
Amazon one of leading online retail giant has announced that 40 percent increase in net sales to $88.9 billion. As compared with $63.4 billion in the same period last year.
The early number of recovery states that there is significant change in consumer behavior from offline to online. Post covid age the world will come up with new consumer behavior and marketing strategies.