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E-commerce in COVID 19

4 min read

People are gradually moving from offline shopping to online and the habit won’t disappear when the epidemic is over. This will have a very positive impact on the whole eCommerce industry.Zhong Zhenshan, Vice-president of emerging technology research, IDC

Across the world, where COVID-19 has made an impact, isolation, quarantine and social distancing measures have been put in place. Factories and restaurants are closed, many small businesses are temporarily shut down, workers from many companies are asked to leave, a number of employees are working from home, many cities are placed under lockdown. Thus people in these countries have already started avoiding public places.

But where many companies are facing a crisis during this pandemic, some small businesses are seeing a boom in their business and getting new customers. You’ve probably heard that eCommerce will grow remarkably due to the Coronavirus. In order to follow social distancing, people avoid going to stores and start using eCommerce websites. Clients also need to move to online retailing to sustain their businesses. Online stores for grocery, fast food, cosmetics, fashion, insurance will be in limelight.

Millennials and Gen Xers are the biggest online shoppers, with 67% of millennials and 56% of Gen Xers preferring to shop online versus in a brick-and-mortar store.

China Academy of Information and Communications Technology has done the research. Research states that smartphone sales have been dropping constantly since December 2019 but eCommerce and delivery businesses are booming during the same period. In fact, the situation is the same all over the world. From this, we can predict that the digital side of the retail business will grow at a faster pace than in previous years.

Research by IGD confirms that by 2023, the online grocery market will see a 66% turnover growth in Europe. Even in Asia, this market will reach 299 billion euros from 101 billion euros in 2018.

Though it is a tough time for the world, for the business, but eCommerce is durable and will be in the market for long.

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