The impact and effect of COVID-19 to the world and its people has been extremely saddening. Not only has it affected the global economy; but the whole society as well. Millions had died and the pandemic virus has been the cause of their demise that cause some countries to implement total lock-down and community quarantines.
Now that physical stores and businesses have closed, how can an online shopping website cope with the inevitable changes the pandemic has brought to the business industry? Since mass gatherings have been prohibited and social distancing is implemented, people find online shopping a perfect way to purchase their needs instead of going to the malls and supermarket.
A change in the shopping behaviors of consumers is noticeably affected by the pandemic. There has been a surge in online shopping that the traffic on many online shopping websites has increased too and that’s not the only impact COVID-19 has on any online shopping website because though there are positive effects for necessities, there has been a huge loss of profit for other businesses. Here’s what we learned from The Adobe Blog:
- Changes in revenues of ecommerce
The implementation of social distancing had people opt for online shopping instead. Since some grocery goods are not available or has been sold out in physical stores, the grocery eCommerce has been profiting a lot that even toilet papers are being purchased online. Other eCommerce categories mentioned in number two are also gaining higher sales than usual.
- Shift in products
Health and safety products are being purchased faster than usual and also shelf stable goods. However, for food and beverages, people are choosing to buy online and pick up the orders in the store or have the foods delivered instead of actually risking their safety of going outside. There has also been a surge in digital streaming for the entertainment of consumers at the comfort of their homes which is not surprising because even medicines are being stocked but purchased online.
- Loss in other categories
Although a lot of categories of online shopping websites are still profiting from this pandemic and has managed to have a positive impact on their business, some companies are suffering and have been losing a lot of profits such as luxury goods and fashion apparels. The money of the consumers is understandably being budgeted for their daily essentials especially now that most of them are not earning their salaries because most companies they are employed on are closed.
In conclusion, the effects depend on which category the business belongs to. There are a lot of positive impacts on shops that sell daily necessities but it is very saddening for businesses and companies that offers luxurious products and fashionable items. A business can survive during times like this if they are able to shift their company to sell food and items that people are looking for while the pandemic is still ongoing. Most online shopping website, however, are profiting not only from their sales, but also with the traffic they are generating.