In many countries where the strain of CoronaVirus (COVID-19) has impacted, isolation and social distancing measures have been taken. In most of the regions of the world, workers have been told to work from home, cities and schools have been closed. People in these places have started avoiding crowds and public places. A February 2020 Coresight Research Survey also found that, with YouGov’s results, 27.5% of United States of America internet users will avoid public places but it also indicated that this figure has now reached more than 58%. Shopping malls were considered to be the most avoided places, but more than half of respondents said that they would avoid local stores and shops as well.
CoronaVirus pandemic is growing the domestic economy because consumers’ process of learning, jobs, purchases, and games have been changed forever. Consumer’s preferences have been shifting to eCommerce, entertainment, and online education for a long time. But the COVID 19 pandemic provided a boost for companies serving the domestic economy and e-commerce. Brands are specializing in experimenting with new ideas and ways to create efficiency.
Increase in Amazon Searches:
E-Commerce, particularly in health and food, is booming in the United States as a whole. According to the data provided by e-commerce technology provider Pacvue, Amazon’s internet searches on products such as hand sanitizers and antibacterial soaps have increased. Digital shoppers are also willing to transform or change the products they need over time so that they don’t have to stores where inventory can be limited anyway.
This is providing an advantage and challenge for digital retailers such as Amazon. Flashing clicks are more likely to drive paid search dollars, but as supply chain issues escalate, third party providers are looking for ways to limit the impact, including reducing advertisement cost.
Adobe’s Digital Economy Index Report
According to the data that comes from Adobe’s Digital Economy Index, more than a trillion online transactions have been made in almost 100 million different Stock Keeping Units (SKUs). This company has worked with more than 100 of the top online retailers in the United States to collect its data. Statistics show that consumers are willing to spend on products that will help them to cope with the COVID 19 crises. This includes largely online deposits and distribution from online stores.
Adobe’s report also found that the e-commerce purchase of soft and hard drinks and other accessories increased by 74% in the United States in April, as consumers experienced a COVID 19 crisis.
According to the Bazaarvoice’s Report based on its 6200 page brand and retail network shows that April was a bigger month for E-Commerce. When consumers completed a collection of essentials like sanitizers, masks, toilet papers for COVID 19 lockdown, they began online shopping for large quantities of toys, games, entertainment, sporting goods, and animal products in April.According to Bazaarvoice, all tracked metrics of E-Commerce grew faster in April than March, including page views, order counts, review submissions, and query submissions.
Increase in Hire Rate
The CoronaVirus (COVID 19) pandemic has caused a huge increase in online searches. Companies including Amazon, Walmart, and InstaCart have hired more workers to increase their retail operations in response to consumer demand. As Amazon sellers are growing, Amazon hired 175000 new workers in the United States to meet the growing demand for online shopping.
InstaCart Became Profitable for the First Time
According to a recent report, due to the increase in the spread of the CoronaVirus, InstaCart became profitable for the first time. InstaCart, a United States technology company that offers daily delivery and pick up services in the United States and Canada, said its weekly sales have increased 10 to 20-fold in the states of California and Washington, because of COVID 19 pandemic. The company sold about $700 million in the first two weeks of April, 450% Up from December 2019, according to the report.
In the first outbreak of a pandemic, the company took advantage of the growing interest in purchasing supplies to better meet the needs of consumers for their convenience, health, and well-being.
Boost in eCommerce to Study and Work from Home
In the Corona Virus crisis, Zoom Video is leading the way in the virtual work process at home and is poised to accelerate in the way it operates. In the early days of the COVID-19 pandemic, the shares of Zoo rose up to 58% during the month of March. As some states and regions in the United States began to open up, a large group of employees continues to work from home. They are also unveiling new features of eCommerce to boost it and to host both small and large interactive workshops, to eliminate the need for travel.
Forbes International Report
According to Forbes International, eCommerce orders in the United States rose 129% in the early days of this pandemic. The United States and Canada saw an impressive 146% increase in April on all online retailers. According to the PYMNTS Remote Payments Study 2020, 72% of consumers use mobile phones for online shopping. The eCommerce supply chain, online retailers, and supplements are growing rapidly and extending their boundaries. Best of all, eCommerce companies are working hard to provide the user with the best online shopping experience because it is the chance to build trust.
Covid-19 pandemic is boosting eCommerce as millions of online users who have changed their behavior to save time, money, and avail convenience are putting a lot of pressure on eCommerce and online retailers. If we look around, every survey, report, and analysis shows results that eCommerce has boomed up to many folds because of this pandemic and it is expected that this boost will remain effective for many months to come. Peoples have converted to online shopping and that has built their trust in online retailers. According to Adobe’s Digital Economy Index, nothing has boosted eCommerce to the rate as this CoronaVirus pandemic has! As an entrepreneur, it is the best time to launch your own selling business on Amazon. At Seller Adventures we have helped more number of business to successfully launch during last 2 weeks as compared to first quarter of 2020. Time to launch your Amazon business is now!