Factors leading to rise in E-commerce.
The e-commerce giants did not only profit so much because the customers were not able to reach retail shops but because of their tactics as well. So let’s have a look at the factors promoting the growth :
Well Organized Pages – The shopping apps are well stacked with over thousands of products to choose from. Therefore it is easy for customers to get the products in their shelf without having to think much.
Buy in One Click – Most e-businesses provide easy one click option to customers for easy purchase. Apart from giving numerous option to choose from , customers get the option of adding the products to their shopping cart for later purchase with just a single click .
Delivered at the Door-step – In just a matter of few days the products are delivered to our doorsteps. The products are safely packaged and directly handed over to the customers.
Huge Discounts – The e-commerce websites attract the customers with slashed prices & sometimes they offer prices lesser than the retail stores as well. And any drop in prices is surely to attract customers to the maximum. Thereby they do not have any problem increasing their sales.
These methods have helped to line up customers on this web pages .
Pandemic patterns that helped rise in Business.
Though there was a significant amount of growth of the e-commerce market but it was not constant throughout the pandemic. As the pandemic unfolded in stages thereof it determined the sale of the products. Considering the pandemic view their were three significant stages in which the e-commerce industry gained it’s advantage :
Stage 1 which was precautionary stage : In this stage people started stocking up the items such medicines, hand washes, sanitizers, disinfectant and masks as well to save themselves from the future effects of pandemic.
Stage 2 which was a stockpiling stage : During this time people stored up food items & other essential services such as toiletries, & non-perishable food supplies as well were stocked up. This stocking up was due to uncertainty about extent of the lockdown period.
Stage 3 which was sheltering at home stage : When the countries were hit with massive number of cases, the government decide on increasing the time span of the lockdown, and in parts the retail stores were shut down for months. In order to cope up with this situation, customers switched to the online sellers for every other item available. This stage led customers to purchase every kind of products ranging from electronic goods to exercise equipment . People did so in order to kill their boredom while trying to enjoy the pandemic period by keeping their mind distracted.
After the pandemic scenario :
The restrictions imposed on the people to curb the further spread of virus led to significant rise in purchase of goods online. But as the effects of pandemic are seen to be reduced, so the demand has decreased as well. In countries like US & China the e-commerce industry seems to going with a slow pace & also the surge in sales had fallen down. But the margins are still higher than the pre- pandemic situation. The countries which had significantly low e-commerce activities had gone up more active during the crisis. In some of the Latin Americans countries people where e-commerce activities were the lowest, people purchased products which were usually brought in a year time. Though their has been a decline in the business in some top countries which sold the maximum products during the Covid-19 situation. The scenario is however better than what was before the pandemic and the e-commerce industry seems to grow each day. Since the year 2017, e-commerce revenues have risen from an estimated $1.4 trillion to $2.4 trillion. This solely due to the fact the about 3.5 billion people from across the globe are on e-commerce platforms making the purchase everyday or the other.
- Aishwarya Sinha
