The COVID-19 pandemic brought a lot of problems in every field of life. The uncertain situation also affected retail businesses around the globe. To cope with the situation, customers have now started buying essential commodities through online grocery stores and shopping malls instead of visiting physical stores.
How COVID-19 Promoted Global E-commerce?
Here are some primary reasons which show how the coronavirus pandemic has boosted the online shopping system.
The COVID-19 pandemic and lockdown are the main factors that converted the traditional buying techniques to the e-commerce business. These conditions forced all the physical trading shut down completely. in this situation, online shopping has emerged as the most suitable way for the customers to make all their purchases. Many websites, applications, and online grocery stores have been created to meet customers’ rising demands. So, we can say that corona virus pandemic acts as a bridge for the online business industry’s advancement.
2. Social Distancing
During the COVID-19 pandemic, social distancing is a significant precautionary measure to minimize this deadly disease’s swift spread. This factor also pushed consumers towards online shopping.
3. Staying Home
The COVID-19 long-term lockdown forced physical shops and traditional business industries to remain closed, and people were advised to stay home. So, the Consumers had decided to make online purchases, increasing the growth of the e-commerce market. A great benefit of online shopping is that you can get your order delivered whether you are at home, in the office, or a different city.
4. Strong and Steady Growth of Internet Users
Another reason for the rapidly growing e-commerce industry is the steady growth of internet users during the COVID-19 pandemic. Browsing the internet and social media, the buyers got enough awareness about online shopping, launching products, and attractive offers by different websites and online retailers. As a result, the trend of online purchases has developed rapidly.
5. Attractive Offers and Promotions by Online Stores
During the lockdown, people have enough time to sort out and compare several offers from different companies, brands, and outlets. The online retailers availed this golden opportunity to expand their business. They provided thousands of products with attractive offers and special discounts to get more and more customers’ attention.
6. Convenient and safety
Convenience and safety are other factors that promoted the e-commerce business as many customers shifted to shopping online to keep themselves safe from any critical situation. They considered that purchasing products from online grocery stores and websites is safe and sound rather than going outside.
7. Smart Payment Methods
Last but not least, smart payment methods also attract customers to shop online. Shopping websites, applications, and online grocery stores offer different payment types to choose from ci. e., credit cards, mobile payments, bank transfers, prepaid cards, direct deposits, etc. COD (cash-on-delivery transactions) is often used for physical goods. While buying online, the customers can opt for any payment method according to their convenience.
Negative Impact of COVID-19 On Global E-commerce
Where the outbreak of COVID-19 developed the business of online grocery stores and websites of healthcare and other essential products, it had also negatively impacted the global e-commerce industry due to the uncertainty in the supply chain. Specially it affected segment of electronics products and their parts because the producer and exporter of these items, China, accounted for most coronavirus cases.