The coronavirus outbreak and the lockdown imposed by the government due to the pandemic, has caused a major shift in the online shopping trends. A series of online shopping statistics has been submitted by an IT company named Capgemini. According to the results of the initial survey conducted by this company, only 46 % of the Indian population prefers physical retail shops as compared to the earlier 59 %. Also, the survey conducted by Capgemini proved that 72 % of the consumers will prefer retailers which will offer delivery assurance and compensation for future cancellations in the next 6-9 months. The country is moving towards changing e-commerce trends, with the majority of the population preferring retailers which offer flexible delivery timings and better health and safety measures.
E-commerce opportunities are looking bright for determined Direct-2-customer brands. With notables of e-commerce industry such as Amazon, Myntra, Ajio etc offering delayed deliveries, new doors have opened up for small retailers to leave their mark on the minds of the customer. Direct-2-customer brands are turning a new leaf as these small brands care about the overall customer experience. When we talk about some big names in the e-commerce world such as amazon, they only pay attention to their 'prime' customers and that comes at a price. Additionally, 40.55 % of the customers are turning to smaller brands to meet their needs as the big sharks run out of stock.
Now let's take a look at the e-commerce sales by product category. With the coronavirus outbreak, the e-commerce market has shifted from fashion and beauty products to the 'survival essentials' occupying 78% of the market share, health, and wellness products occupying 42.5% and household cleaning supplies occupying 34.95% of the market share. As seen from the online shopping statistics during COVID-19 it is quite clear that people are stocking up on food as their priority. Not far behind is health and wellness products as well as household cleaning products.
At the same time, another market trend has become noticeable. People have started paying more attention to promotional SMS, emails, and calls. It is the perfect time for brands to amp up their game of social media marketing and connect with customers in a better and more meaningful way. Instilling the customer with confidence about delivery options and better hygiene practices during product handling can be one way to increase the flow of customers to your website. Smaller brands can also make the customer feel that their purchase is worthwhile by contributing to a current cause.
The future of e-commerce after COVID-19 seems even brighter as people understand the benefits of online shopping in these difficult times.
- The convenience of shopping at home with minimum contact
- Good discounts and lower prices.
- Ability to compare products
- Saves time and efforts
- Doorstep delivery
- Personalized customer experience
- No sales pressure
As the number of people engaged in online shopping increase, e-commerce trends have also changed. People are demanding better-personalized experience at bare minimum cost to enhance their shopping experience. Let's have a look at 6 new e-commerce trends.
- Easy Checkout Options: A cumbersome checkout process can be irritating for customers. Hence a better and easier checkout option will make your customers happy.
- Customer Attention: Brands these days need to fight for customer attention with better and unique products, higher discounts, and better website experience. These factors are especially crucial after the corona virus pandemic with more retailers going online.
- Website Optimization: Website Optimization is a critical part of a great customer experience. Nowadays people are always on the move and switch to multiple devices throughout the day to make a purchase. Hence your website must be optimized to work on every digital platform be it mobile phones, tablets, or laptops.
- Personalized Shopping Experience: Personalized shopping experience is becoming more popular but right now big brands offer it at a cost. Providing a personalized shopping experience at bare minimum cost is an added brownie point your website could benefit from.
- Social Media Strategy: Most of the emerging e-commerce brands slash out on funds for social media marketing. A strong social media strategy can help build a stronger brand. The word of mouth is still popular today and an organized social strategy is the means to do it!
The corona virus pandemic has caused a shift of retail to an online environment and the entrepreneurs need to understand how this online shopping addiction has also changed the customer expectations to build a stronger brand. The future of e-commerce after COVID-19 is to not just build a strong customer base but to also keep them coming back by offering better quality products and personalized services. It's an omnichannel world and the entrepreneurs must move along with it!