Coronavirus Outbreak – How it is Going to Impact eCommerce Industry?

The Coronavirus outbreak has impacted 80% of the countries across Asia, Europe, and the Americas. As global stocks plunge and cities lock themselves down, only technology can address such a situation. Experts believe that digital technologies can help human beings to slow down the coronavirus impact, if not stop, this global outbreak.

Coronavirus Outbreak- How it is going to impact E-commerce Industry
The epidemic originated in Wuhan, a sprawling city of China. It then spread its wings across the globe and countries are facing severe challenges in fighting the virus. This is because of the high rate of human-to-human transmission of the virus known as COVID-19.

As per the reports, global business growth has faced severe downgrade and this directly or indirectly impacts the E-commerce industry. The working of eCommerce largely depends on the physical business through the supply chain. Many retailers are having a surge in flu-related products like health & cleaning agents. Seeing such results and coronavirus outbreak, many physical stores have moved to Ecommerce app development because people are avoiding physical stores to avoid crowded places.

In this blog, we’ll discuss how coronavirus is impacting the online industry and how digital technologies, can become pivotal weapons for stopping this global outbreak. But before that let’s discuss some major details related to coronavirus for better understanding.

What is Coronavirus?
You are very well aware of the word “coronavirus.” It follows a process by entering the human body, occupies a local cell, and multiplies. Although several illnesses exist around us, body immunity rapidly reacts to it and kills them right after they enter the organism. Due to the ability to remember old viruses, immunity quickly gets rid of them. Another problem is that coronavirus causes coughing, high temperature, and breathing issues. However, these symptoms are very much similar to cold or flu.

COVID-19 transfers from person to person, which is quite serious when it comes to global cases. People need to be isolated to reduce virus impact. And you may have already heard the consequences of the COVID-19 quarantine. Luckily, this virus cannot be spread through parcels, meaning the E-commerce business should not be frozen. So, how does a COVID-19 impact the E-commerce industry all over the world?

What is the impact of Coronavirus on eCommerce Business?
It seems that coronavirus will have an impact on business and consumers. Both the public and private sectors are slowing down with the spread of the virus. The full impact is not clear initially. However, its impact has already canceled thousands of events, trade centers, hotels, restaurants, shopping complexes, and bars are closed, conferences are held online, work from home is allocated, etc. All industries are rapidly changing. This is the best opportunity for the brand to build an online selling platform with the guidance of Magento Ecommerce development service provider to boost sales and be competitive in the market.

Also Read: How AI Is Poised To Transform Magento Ecommerce

How Retailers will survive in the Coronavirus outbreak?
It seems that online selling is the best methodology for retailers to survive the coronavirus pandemic. As the lockdown is in progress and people do not want to visit brick and mortar stores, providing services through the E-commerce platform seems promising. But things are more complicated if proper guidance is not taken from the experts in a similar field.

According to reports, online sales saw average growth. The revenue increased by 50% and conversion rate by 10% compared to the same period last year. People want to avoid public spaces to avoid any risks of getting infected with the coronavirus. It motivates them to buy online and this resulted in online retailers making an investment in Magento 2 development services from reputed eCommerce Development companies.

Why Investing in Magento 2 Development is a Smart Move?
Now, let’s find out how investing in Magento 2 eCommerce during coronavirus is beneficial. It doesn’t seem that the CMS will experience any remarkable changes during the pandemic. However, for retailers, it is the right time to pay attention to Magento 2 and its remarkable shopping features. The e-commerce platform introduces a smooth way to go online for retailers. Consider the following ways to leverage this powerful CMS right now:

• If you are not operating during the pandemic, invest this time to create a Magento 2 website and use the time to increase sales, engage more customers.
• If you have a business idea, it is time to make a move, since you have plenty of free time. The dropshipping approach is suitable and for its integration hire Magento 2 developer from a reputed agency. Of course, this will not require any warehouse for inventory storage.
• If you already operating a retail business that is not serving online, it is time to build a digital storefront. If you have an online store, but your website is not engaging and powerful, it’s time to move to an engaging storefront.
• If you are a business owner without an Ecommerce storefront, quickly invest in Magento 2 Commerce and avail its B2B features. The platform offers a set of tools and with the availability of Magento support, it simplifies your interactions with other business partners.

With so many features of this remarkable CMS, investing in it during the coronavirus outbreak will not impact your business online sales and user engagement.

Also Read: Magento 2 Migration: The Reasons, The Benefits and The Challenges

Wrapping Up
The impact of coronavirus on the global market is huge. It already caused an array of negative consequences, and it doesn’t seem that it will disappear within the next few months. Rather than getting vanished reports regarding its regular spread are coming. However, it is not a reason to be panic. Keep calm, and stay at home to avoid getting into public places. Order products through E-commerce portals as online shopping is the best option. Many brands have to hire Magento 2 developers to build eCommerce stores as a result of the closing down of retail shops. While specialists believe it will get slow down during the summer season. COVID-19 is not forever.

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