We all were happily and oblivious in our lives when one day COVID-19 took over. A year ago, none of us could have imagined a deadly viral pandemic to change the way we operate in our daily lives. Coronavirus eCommerce impact is an undeniable fact which has greatly affected businesses across the world.
Until a proper vaccine is developed, we all have to take precautionary measures which means social distancing will become a norm, and ways to avoid going out unless and until it is absolute necessary. People are weary of making purchases by going out so they prefer ways of getting things online that can then be delivered to their homes.
Technology provides Ease
In an article published on our blog about What’s Artificial Intelligence and its Uses, we have already provided a profound insight on how Artificial Intelligence and Big Data have been playing dominant role in giving us ways to combat COVID-19 on a mass-scale level.
The main advantage of incorporating technology into existing business is that it leads to ways for consumers to stay connected and continue business. As a result, companies are able to integrate eCommerce Development Services and create websites, mobile apps and online solutions for showcasing their products.
Users are able to browse through product catalogs and select the items they want to purchase that is possible through their credit or debit cards. The companies can then dispatch the bought goods to the users’ homes which brings convenience, ease and safety in the spotlight.
Trends are Changing
Thanks to technology, users are now more aware of their options. In a recent survey, it was concluded that eCommerce revenue has increased by 37% with 54% of raise in orders, after Coronavirus.
This means users understand that e-retail is the solution to their problems. Instead of opting to sit out the pandemic, people are looking for alternative ways for continuing on with their lives.
Therefore, they are looking for options to carry out their daily activities. Shopping online has always been pitched as a means of saving time and convenience and now it becomes a package deal as it allows users to remain safe and still be able to shop for the items, they wish to buy without stepping outside their home.
Technology brings Insight
Now that statistics have established that people are becoming more used to purchasing online, once again technology helps businesses by giving them insight about the regions with higher weightage of users and demand of their products. Thanks to Big Data, and Artificial Intelligence; companies can add value to substance to their existing operations, procurement and logistics departments.
How Technology can help you
So, let’s imagine this scenario, you are a clothing store with a recently established online business. Now you want to know where exactly does your vested interest lies in.
By understanding your consumer base and its location, you are able to know where exactly should your warehouse needs to be, the logistics for dispatching the items to users, and the delivery services companies that you need to be engaged with. You can also decide on the rate you will be paying them per delivery. Similarly, you will also be aware of many other areas including your procurement for raw items, the factory setup, how you manage the supply chain etc.
All these factors are based on a simple evaluation of your consumer base. And how is that made possible? When data of your consumers is collected through the app/website, it is analyzed to give you insight about the geography of the users. This is the pivot around which e-retail chains work.
Learning from the Big Guns
If you want to know how to work out your Coronavirus eRetail Effect problem, then it is best to take a look at companies like Amazon and AliBaba to understand how they are running their businesses. Although these businesses have been at it for the longest time, however their success lies in understanding the consumer behavior pattern, the trends and capability to provide customizable services to each user on a mass scale.
Despite facing such stringent situation globally, these e-retail giants have not stopped their operations and still continue to raise the bar for businesses around the world. In fact, people are now all the more opting for taking services of these companies as it allows getting goods shipped to their home without having to take the risk of exposing themselves to the Coronavirus pandemic.
Although, small or medium sized businesses cannot compare themselves to these big guns, however there is a leaf to take from their book. For one thing, you can showcase your own products on their websites as an additional means for earning revenue.
Steps that you need to take
You can also start a relatively smaller setup that best fits to your requirements. Like they say, Rome was not built in a day. The first step is to understand your consumer base, their preferences and then decide on the type of software development services to avail for your business. You can either decide on having a mobile or a website or both for your brand.
Once you have decided on your direction, then it is time to work on finding the route for developing the e-retail platform. You can either go for an in-house project or completely outsource the project. Choose whichever options works best for you keeping in mind the time and cost of your endeavor in perspective.
As already mentioned, the use of technological methods of AI and Big Data can greatly aid in understanding your consumer base and steps you need to do to establish and keep momentum in the highlighted marketed segment.
We all have to accept that Coronavirus pandemic is here to stay for an extended time. Despite getting an ultimate solution for it, our lives will never be the same. By accepting this fact, we are putting ourselves on a reasonable ground of finding ways to sustain business.
If you are looking for ways to continue your company’s business, then now is the time to evaluate the COVID-19 eCommerce influence on your existing business. Then you can work ahead for a strategy that provides a win-win solution for you and your users.
Are you looking for new ways to make it through the Coronavirus pandemic? Talk to Techliance today so that we can help you explore the eCommerce or e-Retail route that best fits your business needs.