Drilling down on impact of COVID-19 on eCommerce business!

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• Lets start the discussion with a positive note
  on COVID 19.
• In a small trial of 53 people, who were sick
  with COVID -19, the scientists noticed 68
  improvement by using a drug called Remdesivir. 
  It is still very early to conclude, but
  researchers have reported positive findings in
  the New England Journal of Medicine.
• Some developing stories about COVID 19
• Over 1.8 million confirmed positive cases
  recorded worldwide.
• Tech giants like Apple and Google shake hands to
  develop contact tracing apps to alert users
  exposed to COVID 19.
• Several studies are going to validate the
  effectiveness of antibodies to get details of
  disease spared and help in opening the world
  economy.
• A lot of speculations going about the extension
  of lockdown across the world.
• The pandemic continues to expand all over the
  world. More than 214 countries and territories
  have been affected by the COVID 19. With cases of
  more than 1.8 million and 114,270 deaths, the
  world has seen a great impact of coronavirus on a
  social, mental, and economical level. The sudden
  pause experienced by businesses ranging from
  airlines and the hotel industry to banking and
  information technology could be an alarming
  situation for survival.
• Lets try to figure out how eCommerce business
  will shape in the future and how you can get
  help website development services to regain the
  market share in such a pandemic situation!

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Understanding Online Consumer Behaviour As more
and more cities are currently in lockdown status,
there is a huge decline noticed in visiting
public places even to purchase necessary
household things. Limiting the shopping for only
the essentials has become a normal behavior in
the consumers. Moreover, panic buying was the
major psychological behavior witnessed in the
customer. 360-degree change in revenue across the
eCommerce business Since people have embraced
social distancing as a remedy to overcome the
pandemic, there is a natural drop in
brick-and-mortar shopping. This means that there
will be an exponential increase in online
shopping to purchase life essentials. Was the
prediction accurate? Well, in reality, eCommerce
sales are not at all as high as expected, except
certain industries where they found exponential
growth in their online business during COVID-19.
This is 100 true for the online retailers of
household goods and groceries. One survey from
Engine found that people are spending 10 to 30
more online at this moment. Which products are
seeing growth in the current situation? Grocery
eCommerce is on the peak! In the lockdown period,
grocery eCommerce business soared during March
month, since customers were coming online to
search the goods required but were not available
at their local grocery stores. The graph below
from Rakutan Intelligence shows the behavior of
grocery eCommerce in comparison with other
eCommerce businesses.
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Medical, Cleaning, Food Beverage are winners
other eCommerce product categories received
negligible growth In addition to grocery
eCommerce, medical, clearing, food and beverages
received a great response from the online
consumers. However, it was observed that other
eCommerce products were not at all showing any
progress in terms of business. Just refer to a
graph shown below from Common Thread
Collective. Subscription services are doing
excellent during COVID 19! While other eCommerce
products are not so excited in terms of overall
sales or revenue, there are some exceptions in
it. One such exception is subscription and
convenience services, which is the most popular
among the consumers during the lockdown period.
Have a look at the survey from WITHIN to
understand how well subscription and convenience
services are doing at this moment. Which search
terms are declining? While healthcare and safety
products, stable goods, food beverages, and
digital streaming products are doing well in
terms of sales and revenue, luxury goods, fashion
and apparel have lost a lot of visitors at this
moment. Aside from this, travel has
understandably suffered a big hit at this
time. So, how eCommerce business can get up and
ready for the future? Well, many eCommerce
businesses should be revisiting their budgets
considering digital marketing, product listings
and supply chain management. If required, they
should consult the professional web design
agency or web development company India to plot a
future strategy.
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•  It is a high time when eCommerce businesses
  should follow the strategy shown below
• Utilize or track digital marketing budget
  efficiently to target specific products or
  services considering COVID 19 pandemic.
• Go for retaining organic visibility at this
  moment. Organic search is the most trusted option
  in this scenario. People will start searching,
  and in reality, more than ever before. So, hold
  your organic visibility.
• Try to innovate with your eCommerce solution with
  the help of the professional website Design
  Company in India and enhance user experience
  through AR/VR technologies.
• And dont forget to be a helping hand in this
  pandemic situation! It is a great opportunity to
  re-gain your lost image or improve the existing
  image in front of the customers.
• Try to create the community on social media to
  help out the needy ones.
• It is important to be available early in the
  morning until late in the evening. It is
  important to understand consumer behavior in this
  situation and try to let them know you are always
  available anytime, anywhere!
• At this time, even though we feel isolated and
  frustrated, but the coming days will be positive
  for everyone one of us and will give enough
  opportunities to do excellent on the social as
  well as eCommerce level. However, if you still
  feel you need expert guidance or assurance that
  everything will be alright, get in touch with the
  professional web development company India!
  meanwhile, STAY HEALTHY, STAY HOME, and STAY SAFE!

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