The World Health Organization (WHO) has formally declared the Corona Virus (COVID-19) disease a pandemic. This ongoing pandemic is affecting our way of life; it has changed the way we spend our time, shop, and invest our money. The global economy market has been hit hardest as this pandemic spreads across the world. While most of the companies, startups, and enterprises ( in India and other many countries globally) are slowing down and allowing their employees to work from their homes. The eCommerce companies saw a steep hike in sales, a new record for the sector, as consumers stock up for an extended time at home and stop eating out at restaurants. Also, We saw a whopping hike in demand for virus-related products such as sanitizers, soaps, masks, etc.
At the time of lockdowns, and social isolation, people prefer buying goods, especially grocery items, vegetables, and other day-to-day basic needs from online platforms. As per industry insiders, online retailers, and big e-commerce names like Amazon, Flipkart, BigBasket, Grofers, and others have seen a significant spike in their business. Insiders believe that they have got around 20-30 percent growth in their businesses. As customers are avoiding to go to crowded places, they have switched to online shopping even more than before.
Due to the pandemic fear, consumers across the countries are stocking up on necessary goods from the supermarket. That’s how the shelves of the supermarket are getting empty sooner. And some people facing the issue of not getting basic stuff. To tackle the situation, many retailers across the country have put a cap on the purchase of essential items to avoid stocking of goods by consumers. Many stores have pulled their shutters down and are accepting online orders only. And also, customers prefer to stay at home to avoid getting affected by pandemic Coronavirus disease. This has put extra pressure on the delivery network as people,” said an e-commerce industry executive. But yes, because of all this e-commerce gets a boost as customers prefer to stay indoors.
Changes in Revenue across Ecommerce during Corona Virus lockdown
Since consumers have adopted lockdown and self-isolation as the only way to stop the spread of coronavirus influence, traditional street-side shopping has usually gone down. Due to this pandemic, there’s an increase in the number of people opting for online shopping and eCommerce sites for purchasing their daily essentials as well, instead of purchasing in person or physical stores.
But, in reality, eCommerce revenues are not currently higher around the board, although specific sectors are witnessing significant upwards. Online sellers of household goods and groceries these industries are seeing upwards. According to a survey, people are spending 10-30% more online.
1. Grocery eCommerce
Especially in the second week of March, Grocery eCommerce soared as consumers turned online to find the necessary household items. There is no drastic spike in the rest of the eCommerce industries. It might be up a little bit! Since the local vendors have shut down their shops, the best solution is to get groceries from online vendors.
2. Medical and Healthcare
People are avoiding to get out of their homes. To take safety measures, they are ordering the healthcare essentials or required medicines from their homes only. There are many online shops selling medicines. Even doctors have gone online and have started providing prescriptions in these tough times. As a result, people with minor cold or any medical problems can consult doctors online, get medical assistance, and buy the medicines online by just showing prescriptions.
3. Other eCommerce categories
In addition to grocery, e-commerce covers a vast number of products across categories. Look below to see the increment in COVID-19 data on eCommerce shopping behavior. Amidst the lockdown, everyone is shut in their homes and places. Due to it, the gaming industry has skyrocketed. People sitting at home are ordering PS4 or Xbox games from online shops. In the case of pet food, too, people are knocking the doors of online vendors like Amazon.
Ecommerce Consumer sales (COVID-19)
4. Sudden Skyrocketing Orders
We see a sudden boom in the eCommerce industry not only in India but also in China, which is COVID-19’s first hit nation. There have been countries now who are relying on the internet to buy their daily usage goods. From dairy, grocery, health products to any household stuff, people are highly dependent on online retailers. Most of the people are working from home these days. As a result, e-commerce brands have doubled their business to satisfy every customer’s needs. There has been an enormous order spike in these businesses. So, delivery networks have become busier. Demands of products like fresh fruits and vegetables, milk, flour, rice, lentils, personal hygiene, pet food, instant noodles, baby food, and Ayurvedic items have skyrocketed.
5. Safety measures by e-commerce Fabs
E-commerce development companies like Amazon and Flipkart are putting every penny to monitor the deliveries and supplies. Further, they have integrated thermal scanners and guns in their warehouses to check the temperatures of the staff. While delivering the delivery personnel are wearing disposable gloves and masks. As per BigBasket, their employees are not only wearing gloves and masks but also their grocery crates are sanitized regularly.
6. The dark side of e-commerce amidst COVID-19
While many e-commerce app development companies have been seeing a significant spike in their business, there are other ride-sharing companies like Uber and Ola. They have witnessed a dead drop in many cities as people have abandoned coming out of their homes. The main reason behind it is that employees are working from home and are not commuting to offices like before. Many insiders also believe that taxis and rental cars are not hygienic, and might international travelers use this. So to keep themselves safe and avoid taking health risks, most of the people have abandoned taxi services, be it local taxis, Uber, or Ola cabs.