E-commerce has been one of the fastest-growing industries over the past decade due to the number of consumers choosing to search and shop online. The reason consumers have adopted this method is because of the accessibility to a wider range of options and convenience for their busy lives. All the consumers need is an internet connection and a mobile device to access e-commerce sites. While the pandemic surely accelerated the growth of e-commerce shopping, many wonder if the same growth will be present post-pandemic.
Will E-commerce Continue to Grow Post-pandemic?
Accessibility of Products
The pandemic has forced many individuals to stay in their homes or social distance in order to avoid contracting COVID-19. The pandemic has made many consumers wary of shopping in brick and mortar stores to purchase products. However, this has benefited e-commerce sites. Shopping online does not require consumers to be in contact with other consumers that may have the virus. Consumers are easily able to go online and purchase products from e-commerce sites from the comfort of their virus-free and safe home.
Convenience to the Consumer
When there is a shop or center that has had a positive COVID-19 case, they are forced to close due to safety measures. When this happens, consumers are unable to purchase products from these specific shops. In turn, this makes it harder to obtain what the consumers need or want. However, E-commerce creates convenience for consumers where they will not have to spend time commuting to different places to get what they need. In fact, buying online allows for products to be delivered straight to their door without having to leave.
Price of Products
One of the most unfortunate outcomes of the pandemic is individuals losing their jobs. This has led to many consumers becoming more frugal with their buying decisions. E-commerce businesses have lower overheads and as a result, can sell products online at lower prices. This benefits consumers as they can save money online shopping as opposed to spending money to commute and purchase higher-priced products in-store.
Physical Shops to E-commerce Sites
Many local businesses have started to introduce e-commerce sites to their consumers as they saw the demand for online shopping grow throughout the pandemic. As a result, the number of e-commerce sites has grown tremendously. Overall, this has contributed to insane growth in the e-commerce industry.
Experts agree e-commerce will continue to grow post-pandemic. In fact, growth post-pandemic is expected to outpace e-commerce growth pre-pandemic. The benefits to the consumer as well as the business using e-commerce as the method of selling are mutually exclusive. The pandemic has given businesses an easier way to reach a wider market. With more individuals choosing to shop online as opposed to going into physical shops, we can expect to see rapid growth in the e-commerce industry.
Additional Reading: Impact of COVID Pandemic on eCommerce – International Trade Administration (ITA)
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