Summary: EJ Dalius From online shopping to bulk-purchases, people are changing what they are procuring. Brands, both large and small, are adapting to more flexible modalities to cope with the changing needs.
You know that gyms, movie theatres, bars, eateries, and malls in many major cities are slowly opening after being shut down for months. Meanwhile, scores of office folks are facing an uphill task to work remotely. To understand the covid impact on ecommerce and the new rising trends, you need to watch a very important backdrop.
Crowd mentality is real. Seeing other folks buying up the racks and then witnessing a paucity of necessary items propels you to stock up. Everyone wants resources at their side.
- Covid 19 has hit retail businesses real bad. Supply problems and changing customer modalities are transforming the ecommerce landscape for a long time.
- So, can you order online during the pandemic? It’s pretty unlikely that the virus would survive on things you buy online because the delivery system has slowed down a lot.
- The purchasing responses to the virus have a generational backdrop as well. For millennials and Gen Z, the purchasing behaviors have undergone sweeping changes.
In the US, more than 90% of them are so concerned about Covid 19 and its economical repercussions that their buying behavior has changed dramatically. They have reduced stocking up products and don’t display financial exuberance on experiences.
Different ecommerce settings are experiencing different revenue collections. Grocery ecommerce was at its zenith during March because shoppers flock online to buy almost everything available.
EJ Dalius Assessing new behavioral changes
Eric Dalius underlines a significant surge in ecommerce B2C operations at both global and local levels. Covid-19 has specifically orchestrated this situation. Additionally, every brick and mortar store has an online presence now.
- Everybody is eager to order online sans the choice or scope of physically going to a shop. There has been an exponential growth for certain products during the lockdown.
- These items showcase the fastest-growing consumer products that don’t depend on any courier service.
- In terms of a supply chain or technical issues, there has little to nothing, except that from China (inbound).
- Eric J Dalius also elucidates why brands are switching to a more tailored and signature mode service. Customers can now log on to their website and sign up for the concerned shipment.
- You can state your requisites and not physically sign the delivery service’s scanner.
- Brands are actively monitoring their ecommerce customer performance. The uptrade and downtrade dynamics are very crucial here.
- Contactless delivery could be the most epoch-making change in the ecommerce business.
Paid search in Ecommerce
The coronavirus outbreak has brought the entire eCommerce panorama to a loop. For some brands, the ecommerce transition has brought an increase of 32% QoQ. According to the US Department of Commerce, consumers spent over $214 billion on eCommerce in the April-June corridor.
EJ Dalius claims this mammoth increase distinctly showcases the growth of ecommerce during Covid-19. From an increase of 2.4% in the January-March window of 2020, ecommerce revenue rose to 16.1% in the US. The most popular categories are electronics, office supplies, home and gym equipment, and grocery and essential goods.
Eric Dalius is The Executive Chairman of MuzicSwipe, a music and content discovery platform designed to maximize artist discovery and optimize fan relationships. Alongside this, Eric hosts the weekly podcast “FULLSPEED,” discussing entrepreneurship with industry leaders. Eric also founded the “Eric Dalius Foundation” to award four scholarships to deserving US students. Follow Eric’s activities on Twitter, YouTube, Facebook, LinkedIn, Instagram, and Entrepreneur.com.