Coronavirus Impact on eCommerce Industry!

The ongoing Coronavirus pandemic is impacting every part of our lives. Besides, it has wide-ranging ramifications for marketing, advertising and eCommerce as well as several other sectors like travel, entertainment and FMCG. 

As opposed to, the pandemic has defined a new category of goods called “new essentials.” New essentials are products that help consumers feel more comfortable under stay-at-home orders. This includes office supplies, fitness equipment, cosmetics, housewares, home improvement, toys, and hobby-related products as well as medicine and medical equipment. These goods account for almost 40% of all consumer spending right now around the world. 30% of the total 40% is beauty and cosmetics. Both fitness equipment and toys/hobbies account for 29% of the new essentials spending.

As the world begins to revert to the old habits in the upcoming few months, spending in this category is likely to decrease, but not completely disappear.  
Anyways, one important thing is how a customer can buy a product. Right now, of course, it can be from any eCommerce store with home delivery and from the previous statistics, we can say this habit will continue in large part of the customers in future. 

Although the increase in shipping delays, eCommerce order volume has increased by 50% compared to 2019. During this Coronavirus pandemic, the eCommerce landscape is changing rapidly. Consumer priorities and behavior have shifted in recent weeks in response to COVID-19, and it means that eCommerce brands need to react quickly and swiftly to maximize organic traffic and revenue. 

But those small businessmen who don’t have an eCommerce website, they should at least develop an eCommerce site for online shopping when Coronavirus has a great impact on eCommerce industry. Now this is the demand of the situation and age. Before developing their eCommerce site, they can follow my previous blog on (Top 5 eCommerce Trends For 2020), where I described the latest eCommerce trends for 2020. 

Hopefully, we recover faster in the upcoming months from this situation.

In this modern era, everything becomes based on online. When people want to buy something, want to go to any tourist place, want to book a hotel room, want to buy a bus or air ticket, etc., they just search online and take the facility. Because of enhancing the online buying tendency, the online-based market range is increasing faster. It’s an excellent opportunity for new entrepreneurs or existing marketers, especially in the eCommerce industry. Now, we are going to discuss the top 5 eCommerce trends in 2020.

1. Augmented Reality (AR) 

Due to emerging technologies, Augmented Reality (AR) is driving the eCommerce sector to the vast horizon. When you include AR in your eCommerce shop, It boosts your sale but how?

• Customers feel more connected when they engage with the virtual product that too the 2D printed image. It attracts a customer to stay more in the online shop, or they will visit again and again your online platform.

• After getting an AR experience, the users will be motivated to get this experience again and again.

•  AR with 3D visualization plays a vital role for users to make the correct decision.

• AR focuses on a level of personalization to the consumers where they can see themselves in all of the outfits that would look best on them. 

• AR helps the shopping experience with virtual dimensions and colours of the products. It can support consumers who are looking for help in finding which item is suitable for them.  

There are a lot of prospective factors that help an eCommerce marketer to increase his/her sale when they include AR with it. 

2. Voice Search Optimization 

Apple Siri, Alexa, Google Assistant, etc. provide the innovative voice service tool, and it will be the future eCommerce trends rather than typing and searching for any product or service. Customers will get the exact result after searching for any product or service by voice.  

3. Customized Products 

It is the best thing if you can provide your products or services according to customers needs and wants. So, users like most this feature in your eCommerce site where they can customize (colour, size, style, etc.) their product. 

4. Artificial Intelligence 

Artificial intelligence is the next favourable technology for not only eCommerce but almost all industries. AI can change the eCommerce industry in several ways-

• Personalization is essential to gather more customers, and Artificial Intelligence and Machine learning technology provide it to a new level altogether. 

• For interacting with customers, Chatbots are the best solution which is an essential component in the future of online business. One of the best features of the AI is that it has eliminated human intervention while interacting with the customers. 

• To make customer relationship management (CRM) more active, Artificial intelligence can be used widely. Marketers are using various AI tools to evaluate potential leads, data from social media, essential recommendations, and for automatic data entry, data analysis to strengthen marketing and sales activities.

5. Web payment 

Web payment is a method by where the customers fill the form once while buying the product and his payment details will be saved on the web, in the next time rebuying the product or another product, he/she can proceed without filling payment details. It is a useful feature for eCommerce trends 2020. 

Keep in touch with us for getting update. My last blog link : 20+ Awesome Web Development & Management Tools for 2020