2020, a year to remember, right?
Half-over and the last year of the 2010 decade is already historical. Here is a quick and non-exhaustive list of what happened in 2020:
And, in order to try and fight the extremely contagious, volatile and unknown virus, worldwide lockdown measures were set in motion. Airports, train stations, restaurants, cafes, theatres, shopping malls – you name it – all, shut down.
But, even though physical marketplaces and other industries have known their darkest times, we still needed access to consumer goods: clothing, food, tech items, furniture etc.
This is where ecommerce stepped in to play an even bigger role in our lives.
Sleeknote.com suggests there has been significant growth in ecommerce in recent years:
During the last 10 years, ecommerce has grown substantially. From 2014 to 2020, total sales went from $1.3 trillion (in 2014) to $4.2 trillion (in 2020). Sales have risen enormously and are expected to keep climbing.
You have probably already purchased something online. According to Statista, 75 % of people shop online at least once a month :
Keep in mind that the overwhelming majority of e-shoppers shop online fairly frequently.
Besides, if internet users are increasing, their profiles are even more diverse, as well as their ever-varying needs. We can even observe that there are less and less splits in terms of gender, age, and socio-professional category.
We even talk about ‘later adopters’ to refer to senior users – aged 65 and older – who have also adopted online shopping. Especially during the peak of the coronavirus crisis, where some were forbidden from leaving their homes because they were the most at risk!
Thanks to ecommerce and online shopping, they could at least manage to order what they needed, in all safety.
On the other hand, when almost 40 million people lost their jobs since the COVID-19 pandemic, ecommerce companies offered thousands and thousands of jobs. Since March, Amazon alone offered 175,000 temporary positions, 125,000 of which are to be converted into permanent jobs.
And that is how and why ecommerce has been so important in 2020.
By hiring thousands and thousands of people, Amazon answered the surge encountered by the ecommerce industry – thanks to (and sometimes because of) the COVID-19 crisis.
And precisely because of that booming demand, ecommerce business owners need to be extra careful when it comes to logistics and shipping management. If the fulfilment of ordered goods is done in an optimum way, customers will be happy. And a happy customer is a returning one.
Ecommerce is no longer reserved only to digital natives or computer whizzes. Anyone can find almost anything they need.
Also, shipping can be fast and easily tracked, payments are highly secured, returns and refunds are possible and legally framed, and sellers are reviewed and verified.
This ever-expanding variety of profiles has brought significant and fast changes to shopping habits: searched/wanted/popular products, average bundle/basket and effective advertisement targeting are not even the same from one buyer profile to another.
To stay in the game, online retailers must keep updating their strategies to be able to meet more and more differentiated needs. They will, for instance, offer custom-tailored products.
Some of the most creative online business owners will even offer their customers the possibility to customize their windows: colour, height, type of setting, material, opacity/transparency levels.
Coronavirus has also created a space for new products, such as totally customized face-masks and coverings – if it’s mandatory to wear one then it should at least be fun!
In short, ecommerce businesses will take the necessary steps and make the right moves to remain competitive and continue selling their products. And they are right to do so, because the competition is tough.
2020 has brought new opportunities and potential for ecommerce growth. From the rise of omnichannel experiences, offering subscription options and flexible payment options, and more opportunities, 2020 has truly tested businesses on their abilities to implement agile changes to empower lasting growth! Take a look at some top ecommerce trends for 2020 and see how COVID-19 has influenced or changed their trajectory here.
Ecommerce has played a significant role in our lives in 2020. It’s enabled people to buy the goods they need during lockdown and provided jobs to workers who’ve experienced redundancy.
And, until there’s a globally-approved vaccine for coronavirus, chances are that ecommerce will continue to play an even more important role for many people in the coming years.
Author bio: This article was written by the team at Fulfillment Bridge, a company that assists online-sellers with their ecommerce order fulfilment in 4 continents.
If you want to know more about their services then get in touch with them.