Is the COVID 19 Crisis Going to Have a Long-Lasting Effect on Ecommerce?

There's no question that eCommerce is changing. However, the scale and rate at which this change is occurring is something that’s never been seen before. The recent COVID-19 epidemic has thrown the expansion of eCommerce into overdrive, and companies are being forced to adapt.

Those who fail to do so will not survive, and the vast majority of companies understand this. What they need now is a consumer-friendly, effective and fast approach to online sales. If you want to make sure you're keeping up with the emerging trends, we recommend investing in the services of an experienced web development agency.

Let's take a look at how businesses can adapt to the turbulent times we find ourselves in. 

Evolution of E-Commerce After COVID-19

Before the world was thrown into disarray, the global eCommerce sector was projected to grow by 256% from 2014 to 2023. While this kind of growth is substantial, it doesn't account for the development of eCommerce in the wake of COVID-19.

At the time, eCommerce was only expected to account for 22% of sales in 2023. This means that traditional evolution was expected to move along conventional sales channels. Needless to say, the coronavirus and the ensuing lockdown changed this dramatically.

Ecommerce is now the primary sales channel for many businesses, regardless of their size. Considering the worldwide lockdown, this is hardly surprising. 

That said, there's plenty of evidence suggesting that, while the figures will not remain at this level forever, the overall shift to eCommerce will happen much more quickly than what was previously projected.

In other words, we've reached a new normal. eCommerce is now an indelible part of business, and even when the shops fully reopen, online shopping will remain more important than ever. This is mostly due to the sweeping changes in consumer habits, which we will discuss in the next section.

Changes in Consumer Preferences

The COVID-19 crisis has taught users to look online first and has given them plenty of practice and experience in doing so. Like any retail sector, eCommerce is dictated by consumer demand and preferences.

As other methods became unavailable due to the pandemic, the spotlight was focused firmly on eCommerce, and it has duly delivered. Customers seem to have fully embraced eCommerce, and this does not seem to be just a temporary shift.

According to recent surveys, roughly 50% of all age groups and demographics intend to keep using the eCommerce businesses they've found during the pandemic.

Numerous reports show that older adults, an age group that heavily favors brick-and-mortar stores, are increasingly embracing online shopping. Here are a few examples:

• In China, people over the age of 60 are massively shifting to digital experiences, including apps and online stores.

• A Coresight Research survey showed that, in the US, those over the age of 61 were the most likely to steer clear of shops (61.1%) and shopping centers (85.6%). These percentages are the highest of any age group.

• Finally, Deloitte expects over 1 million Danish citizens over 65 to partake in online shopping more frequently than ever.

These surveys show that the trend of embracing eCommerce affects all age groups in every corner of the globe, so it is not a good idea to ignore it.

Another thing that the results of these studies reveal is that the pandemic has brought many new customers to the online shopping experience. This means that eCommerce stores that hope to capitalize on this influx should focus on mastering the basics, including:

• A clearly labelled shopping path

• An easy-to-use and functional search bar

• Straightforward navigation

While these late adopters will mostly be using their smartphones and home computers to access their preferred e-commerce stores, it is worth thinking about new technologies and trends that could draw a more tech-savvy crowd.

Value of Presentation and Comprehensive Product Information

One of the most prominent downsides of shopping online is the inability to examine the product as thoroughly as you'd like before purchase. For older demographics, who are used to inspecting goods before buying them, this is a particular challenge.

There are a few essential features that online shoppers are looking for, but they can differ depending on the specific product's type. For example:

• When it comes to items with custom features, like different colors, shoppers like to see all the possible variants of the product before deciding. If your customers can't see the exact version of the product they are interested in, they might not be convinced.

• For fashion products, 360-degree views are much appreciated, if not essential, as people like to be able to inspect the items from all angles.

• With a vast majority of products, images and videos are enough for now, as long as the information presented is clear. When buying a piece of technology, like a smart TV, most people are interested in its specifications and dimensions, rather than how it looks from the back.

Customers also want to see regularly updated and reliable information. If they're not sure that the data they are looking at is entirely up to date, they may decide to look elsewhere.

With the recent advancements in AR and VR technologies, these demands and expectations are likely to change, but we're not there yet. For now, eCommerce stores should focus on showing clear images, informational videos and accurate, up-to-date information.

Mobile Platforms and Website Responsiveness

Responsiveness has been an essential aspect of web development for a long time. We all know that smartphones are the future and that having a mobile-friendly website is a must.

However, during the pandemic, consumers had more access to their computer screens than usual, lowering smartphone traffic. This may lead some companies to believe that having a desktop-focused website is still enough, but they are about to have a rude awakening.

When the pandemic is over, and things start going back to normal, companies that haven't invested in their eCommerce stores' responsiveness will be left behind, particularly considering our next and final point.

The eCommerce Market Is More Competitive Than Ever

More and more companies have been forced to move online, making competition in the eCommerce realm more intense than ever. 

Imagine a store that has only had to compete with others in its area until this point. Going online means not only expanding its reach in terms of customers but also the number of its rivals. 

With the limitations on traveling that we've experienced during the COVID pandemic, businesses have had to find ways to accommodate customers outside of their areas. This means more potential options are now available to the average consumer.

Therefore, the need to stand out is about to become more significant than ever. As eCommerce becomes the norm, your online presence will need to keep up with the quality of your products.

Considering the fact that consumers intend to stick with eCommerce purchasing, it is time to focus on building a loyal following. The best way to do this is by offering loyalty programs and other similar initiatives.