With Covid-19 pandemic disrupting everything around the world, every sector is changing its paradigm to work with the limitations. As people are taking precautions and avoid going out, they discovered that eCommerce is not only a convenient mode of purchasing products and services but also a necessity.You can easily get anything you want with eCommerce.
The shopping trend has been shifting from brick and mortar to online platforms for essential and non-essential items. Thinking about their safety from this deadly virus, eCommerce is riding the high horse and is all set to become the new norm for shopping. Here are some shifts that will be seen in eCommerce in the coming years.
Changing eCommerce trends in the post pandemic world
Rise of cross border, global marketplace
As covid-19 pandemic is creating chaos around the whole world, the global marketplace became one of the effective and reliable platforms to tackle it. Once people witnessed the empty local stores in their cities, they shifted to the online platform to fulfill their needs. There was a drastic shift that even created chaos in the minds of online retailers to manage the demand.
The panic behavior changed as the condition started to subside and people stopped hoarding things. However, there is a whole crop of people who like to shop online and fulfill their necessities without putting their health and families at risk. They have confidence in the eCommerce platforms and feel more comfortable buying things from them.
With the rise of consumer trust in online eCommerce stores, people now have started shifting to the eCommerce space with more confidence. On top of that, the cross border payment solutions have further allowed them to spread their reach in the international market and boost the growth of their business.
Yes to ‘No-contact’ transactions
This is a common term that you will see when you shop online on eCommerce platforms. As cash exchange is a potential source of spreading the covid-19 virus, eCommerce platforms are promoting every measure that will reduce the risk and keep their consumers safe.
More and more eCommerce businesses are shifting to cashless mode to elevate the trust of their customers in making them believe that they are doing everything possible to provide safely handled products. Besides this, they would be looking for other measures that will keep them a step ahead in the competition.
Expanding supply chains
As the factories witnessed the surge of demand and the panic caused due to covid-19 pandemic, they understood the need to rely on multiple supply chains and inventories to stay in the race. While at the peak of the pandemic, many businesses were unable to meet the sudden rise in demand due to their dependability on a single supply chain. So, to avoid such a situation, all the businesses in the eCommerce space are resonating with the idea of diversifying the supply chains.
The brands that want to enter the international market and widen their reach have to think about the future circumstances and involve in proper risk planning to tackle financial repercussions and keep a steady flow of products with respect to the demand.
Change in shopping habits
No doubt the essential items are still at the forefront in the buying habits of the consumers on the online platforms, but the things that keep people entertained at home are also witnessing exponential growth in demand. As self-isolation has become prominent in the covid-19 situation, people are buying stuff that will keep them entertained in that period. These items are now becoming the ‘new essentials’ and will stay in demand in the post-pandemic world.
As there is a paradigm shift towards the eCommerce platform, people now expect even faster deliveries of the products they want to purchase. Rather than the standard 8-10 days delivery window, eCommerce platforms now have to provide same-day or faster delivery of the products to retain their customers.
With a strong backhold of diversified supply chains and inventories, sellers have to take advantage of their resources to meet the demand to gain a cutting edge over the competitors in the market.
Incorporating Social Commerce
With the changing trend in shopping habits, it is now necessary for the brands and eCommerce stores to harness the power of social media platforms and give a boost to their growth by influencing the consumers with their products and services on these platforms.
These are changing trends that will gain even more popularity in the post pandemic world. If you are looking to dive into the eCommerce space then it is high time to plan your retail industry IT solutions. Grab the opportunity and take advantage of the perks of the eCommerce world.