The COVID-19 pandemic has disrupted many aspects of daily living, including how people eat, work, study, communicate, and make purchases. Prior to the virus outbreak, e-commerce has been on the rise with consumers, contributing to 56.9% of the $3.76 trillion total retail sales in 2019. In light of the “new normal,” consumers have shifted to online shopping and are unlikely to return to former habits.
As e-commerce sales are projected to reach as much as $6.5 trillion in 2022, e-commerce will be vital for businesses to effectively address the shift in consumer habits and demands. Paying attention to emerging consumer insights for e-commerce businesses can help your company stay ahead in the market.
The adoption of digital technology such as smartphones, laptops, desktop computers, and tablets has gone up in light of the pandemic. This widespread use has greatly contributed to the success of online retail and e-commerce as well as enabled innovations like e-wallets and other digital payment gateways. One of the struggles new e-commerce sellers face is providing a secure and seamless digital experience to remain relevant to consumers.
As more consumers opt to shop online to abide by public safety measures and protect themselves, the logistics involved have also shifted. Local delivery has risen in light of the pandemic, as this reduces a customer’s potential exposure to the virus. On the other hand, businesses that lack the infrastructure to provide local delivery services have turned to curbside pick-up as an alternative. This method relies on e-commerce and digital transactions while minimizing contact with the customer.
Finally, the effects of the pandemic on small local businesses have driven consumers to support businesses in the communities. Lockdown restrictions have greatly impacted traffic to storefronts, making e-commerce and digital channels necessary for these businesses to thrive.
To get an in-depth perspective on the changing landscape of e-commerce and consumer behaviors, continue to the infographic below.