The pandemic shone the spotlight on the many E-commerce advantages, particularly that of convenience. During May alone, during the Coronavirus lockdown, global e-commerce sales reached $82.5 billion, a 77% increase over the previous year.
Coronavirus served as a catalyst, propelling consumers into the online shopping world, consumer behavior that’s likely to continue, even once the Corona dust settles. More than 50% of online grocery consumers state that they’re planning on shopping online even after the pandemic.
This has increased online shopping usage, globally. In India, it has led to a rise in the number of FTUs or first-time-ecommerce-users in India, who had been so far inhibited to shop online. The SARS outbreak that infected over 2700 people in 2002, too is known to have dramatically changed people’s shopping habits as they were afraid of shopping outdoors.
Benefits of E-commerce for Business
The need for a physical store is not required as lower fixed costs for the business. Also, since most e-commerce is automated, fewer staff members are required.
When you sell online, your business is open 24/7/365. Even though your customer support may be sleeping, automation ensures that the rest of the sales process is always flowing and consumers can buy on any day, at any time.
Not only do online consumers typically provide their name, email address, and phone number when checking out or registering on a site, but they also provide a wealth of consumer behavior and demographic data, available through Google Analytics, that can help online retailers optimize the consumer journey and market more effectively and accurately.
With e-commerce, geographical boundaries become inconsequential. You could sell your products to online shoppers across the city or even across the state. You’re not limited to shoppers in your physical location.