How is the coronavirus affecting e-commerce?
The e-commerce industry is one of the few that has experienced both positive and negative effects of the global pandemic. Below are some of the main ways in which the virus is affecting the e-commerce industry.
Increased sales- e-commerce businesses are currently experiencing a lot of sales due to panic buying. One of the major impacts of the virus is the global panic. Clients can no longer access physical stores because of lockdowns and social distancing, and more people are turning to online shopping. The panic has also caused an increased quantity of sales because people are stocking their houses with essentials because of the fear of lacking something important.
Shift from physical stores to e-commerce- Panic buying has led to overcrowding of supermarkets and other physical stores. However, as the illness continues to spread across the world, more people are developing a fear of crowded places. Instructions from the medical society also advise against such gatherings. This has led to a shift to e-commerce.
The low market for non-essential goods- despite the increase in sales due to panic buying, there have been decreased sales of some products. For instance, more people are purchasing toiletries, and the purchase of things like electronics are decreasing. Research shows that most e-commerce businesses deal with electronics like phones. Groceries and other essentials are more prevalent in physical retail stores.
Slow down in shipment- most e-commerce businesses have had to send apologies to clients because of late shipment. The reason is that most companies have had to send home a large percentage of their employees due to the instructions from authorities. Also, businesses that ship products in different countries and states using means like air travel have been forced to put a stop to the business. This is because of the ban that most countries have put on air travel.
Cancellation of product launches- companies like Apple and Facebook have been forced to cancel their product launches due to the pandemic
Shortage of goods- Regardless of the increased purchases brought by fear and panic, e-commerce businesses, like others, have had to let down clients due to shortage of goods. The shortages are influenced by the fact that most companies have had to shut down manufacturing due to a lack of human resources.
How is the coronavirus affecting digital marketing?
The fact that most people are currently forced to stay at home means that more people are spending their time on phones and the internet. This means that marketing contents on TV and the internet are getting more views. Therefore, techniques like multichannel messaging are the current go-to marketing methods for all types of industries.
On the other hand, the coronavirus is also negatively affecting the digital marketing industry. The negative impact is that more airtime on TV and other platform is currently going towards spreading awareness of the pandemic and providing updates to viewers.
The digital marketing and e-commerce industry are just a few of the several sectors that are affected by the pandemic. Business people and corporations are living in fear of an economic crisis like a recession. However, most businesses are trying to make the best of the situation while preparing for the worst.