Whether it is economic slowdowns or a widespread pandemic, these black swan episodes have always had a profound impact on changing the course of businesses.
The emergence of COVID-19 and its subsequent prevalence has resulted in early signs of consumer behavior shifting. Already, businesses and consumers alike are facing the wrath of this deadly virus and are employing different strategies to tackle the same.
Although remote working and digitalization have made things better, the profitability of a majority of businesses is getting severely impacted. However, at the same time, the pandemic quickly changing the way how consumers shop and consume information. Irrespective of the contingency plans employed by some of the leading companies and businessmen in shielding the economic effects of the virus, experts suggest a global recession to be on the horizon due to the same.
However, there seems to be a striking difference in the volume of impact when it comes to the online sector. With anxiety concerning the virus increasing, people prefer to stay at home instead of going out. This has majorly hurt the in-store traffic for several retailers and has led to a surge in popularity for online shopping.
The Shifting World of the Ecommerce Sector:
The imposition of lockdown and public gatherings has affected brick-and-mortar retailers severely. Moreover, government restriction on outdoor trips and enforcement of quarantine is expected to stretch beyond the lock-down period. This, in turn, will impact the brick-and-mortar stores to go through a long-term crisis.
On the other hand, the ecommerce industry is facing persistent challenges in regards to shipping and supply. According to Adobe’s analysis, since the advent of the ongoing virus, there has been an 817% surge in sales when it comes to products like hand sanitizers, antibacterial sprays, masks, and gloves.
Aside from this, the online sale of medicines for flu, cough, and cold has increased by 198%. While the sale for pain relievers has increased by 152%. This has prompted many offline medicinal suppliers to shift focus on online ecommerce options.
Other essential items like grocery products and household items have also seen striking improvements in recent months.
The Online Movement:
With many retailers closing their offline stores temporarily, it has become imperative for them to move towards online solutions. A huge shift in online shopping is expected to be the case in the coming months and retailers are leveraging the expected trend to their advantage.
The shift from offline to an online store can be a bit complex, especially due to the vast variety of ecommerce companies available in the market. Moreover, a lot of retailers can be skeptical about a lot of these platforms due to their lack of digital exposure. However, major ecommerce platforms are taking all the necessary steps to bring awareness among individuals and expand their customer base.
One such ecommerce platform is Quick eSelling. The ecommerce platform has stood out primarily and is helping global retailers go online instantly without any capital investment during these times of uncertainty.
Free Online Store Setup Opportunity for Global Retailers:
At present, the online shopping industry is going through an upsurge in regards to demand and it is slated to grow even further once the crisis is over. Quick eSelling has been making significant efforts in promoting social distancing by offering free set up of ecommerce website & mobile app for businesses across the globe. With the pandemic becoming more and more prevalent and businesses facing an impact because of the same, this can come off as a welcome relief for global retailers.
As confirmed by company CEO’s Saket Singhi, in the last 2 weeks, with Quick eSelling more than 10000 retailers have launched their online stores to serve their customers online. The platform is enabling small businesses in different verticals such as grocery, restaurant, cosmetics, etc. to set-up their e-commerce store in just 10 minutes for free. The company has also waived-off transaction charges for 1st three months in the free plan. Moreover, Quick eSelling has taken all the necessary actions to ensure the safety and well-being of its employees and clients, without hampering its productivity and service efficiency.
Covid-19 has hit hard on brick and mortar shops and ecommerce is acting as the savior in this tough time. Due to lockdown, many in-store retailers have shifted their business practices online. Since social distancing is needed for at least the next 3-4 months, we will see more brick and mortar stores going online in the coming weeks.
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