How COVID-19 Pandemic will Impact Ecommerce Industry?

The outbreak of the COVID-19 pandemic has caused a severe impact on the businesses and services around the world; eCommerce is no exception. Most of the industries are shut down, events are canceled and businesses across China, Europe, and the USA stopped instantly. The impact of the coronavirus on eCommerce is not so straightforward. Many offline businesses moved to online selling with the guidance of Magento 2 Development Company for normal business operations.

COVID-19 Pandemic will Impact E-commerce Industry

As cities went under lockdown and people are advised of social distancing, consumers in large numbers are opting for online shopping to meet their day to day requirements. This resulted in an increase of 150% in online sales with a 20% increase in online shoppers. Some might think of this as a great opportunity for online retailers. But, it has both positive and negative sides.

According to a report, about half of the store owners have witnessed a downward trend in their online traffic for some respective products. Also, 60% of retailers have not seen any shifts to their eCommerce stores post spread of COVID-19 virus. This clearly shows a somewhat mixed picture for online sellers. In this post, we’ll try to understand the true effects of the COVID-19 and how Magento India can help you with their Magento Migration services to get out of such a situation.

Store owners having below products to sell are seeing a huge increase in the overall sales. And it is the perfect time for vendors to make a move to Online selling stores.

1. Increase in Hygiene Products Demands
The eCommerce industry has witnessed a surge in pharmaceutical product purchases due to the COVID-19 pandemic. With shops and malls being closed, people are buying from online stores to remain safe from virus infection. Products like masks, gloves, hand sanitizers, and antibacterial sprays, are in huge demand.

2. Growth in Online Medicines Buying
Similarly, the demands of medicines have increased post the outbreak. People are buying medicines related to cold, cough, and flu, as expected, all because of the virus’s fears. Online purchases of medicines have increased by over 200% in the last few days. Online stores selling pharmaceutical products are making a lot of money during this period.

3. Sale of Groceries Picked Up
Online grocery demand has picked up during this pandemic period. It is not surprising that people are buying online to fill their pantry to prepare for the worst-case scenario. Dairy products and other daily consumable food items have seen a jump of 70% in their sales, whereas, refrigerated items sale
s grew by 58%.

We’re helping businesses to revamp their offline businesses and migrate to Magento stores to get their business to grow better.

1. Magento 2 Marketplace Extensions
These Magento 2 extensions help to improve your store in numerous ways. The extension offered is vast in number including powerful shipping extensions, payment extensions, sales motivation extensions, and customer experience extensions.

2. Magento 2 Integration Services
Multichannel selling is the most important step to build a scalable & progressive business. You can hire Magento 2 developers from a reputed and prominent development company. They will help you with Magento 2 Integration services in a smooth manner.

3. Build Marketplace
A marketplace platform can help people and victims in coordinating civil support efforts during the COVID-19 pandemic. Magento India helps enterprises to create an online marketplace to help the community.

Frequently Asked Questions

1. What is Magento used for?
Magento is an open-source e-commerce development platform that provides online merchants an amazing shopping cart system, as well as control over the look, content, and functionality of the online store. Magento provides strong marketing, search engine optimization, and catalog-management tools.

2. What is the Magento marketplace?
Magento Marketplace is the next generation application store offering merchants a tailored selection of solutions and offers experienced developers the tools, platform, and prime location to build a growing business.

3. What is an eCommerce app?
E-commerce is the activity of buying or selling of products through online medium over the Internet. Online shopping for retail sales direct to consumers via mobile apps, and conversational commerce through live chat, chatbots, and voice assistants.

4. What are the features of e-commerce?
The most important E-commerce features are:
• Promotion and discount code tools.
• An easy-to-use checkout.
• Email marketing integration.
• Reporting & analytics tools.
• Content management capabilities.
• Search engine optimized code and layout.
• An integrated blog or articles section.

5. Which is the best E-commerce development platform?
The market is full of e-commerce development platforms, but Magento 2 is the most preferred choice of eCommerce store owners. The features it offers in terms of security, flexibility, scalability, robustness is quite remarkable.

Wrapping Up
The impact of COVID-19 on the global business is huge in every domain IT, Automobile, Tourism, and hospitality. It already caused serious negative impacts, and it doesn’t seem that it will get completely eliminated within the next few months. Rather than becoming slow reports of its growth are regularly coming. However, it is not a reason to be panic. Keep calm, and stay at home to avoid getting into public places. People are buying products through eCommerce portals as social distancing is the best option to stay safe. Many brands have to hire Magento 2 developers to build eCommerce stores to stay competitive and remain intact in the market. While specialists believe it will get slow down during the summer season. COVID-19 is not forever.

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