5 ways 2020 changed E-commerce
When was the last time you buy something? It may have happened a few months ago, or maybe the last weekend. Anyway, it’s certain that the same store now allows you to shop online.
2020 changed E-commerce in different ways. Now you can use an electronic device to get any products that weren’t normally available for online shopping. Though this shopping method was associated with products such as books, electronic gadgets now include as well as products from other industries such as medicines, supermarkets, automobile accessories, etc.
In Costa Rica the pandemic context changed the shopping behavior of 80% of the consumers. The E-commerce sector took off in the middle of the new reality. So, do you know how it changed?
1. The growth has no precedents.
According to the Covid-19 and E-Commerce survey, conducted by the United Nations Conference on Trade and Development (UNCTAD) the e-commerce trend has grown worldwide. This study was conducted simultaneously in countries such as China, Germany, Italy, South Corea, Russia, South Africa, Switzerland, and Turkey.
The survey included 37.000 participants and it shows how the trend of the increment is mainly visible in the developing countries. In most of the categories where the growth is visible, they represented around 6% or 10%. The case of the United States shows an important change in 2020, in comparison to its behavior since 1999. From the retail registered in October 2019, (11.8%), it changed to 16.2% last October.
2. The new behavior will last
The increasing preference for E-commerce is going to last more than the pandemic context. The changes produced during these times will continue due to our every time more digital reality.
The consumer’s behavior has also experienced important changes. This is evident in the UNCTAD survey, as it’s visible how the consumption habits of 2020 produced a big opportunity for new industries. This is related, for example, to the fact that people are now looking for DIY solutions.
3. Bussiness should be focused on E-Commerce
E-commerce is the way to take. Those companies that know this and have placed E-commerce as the heart of their strategies are ready to take off in the new reality.
There’s a real renewal opportunity to offer a solution that includes digital catalogs and finding new ways of giving delivery answers. This works both for each location but also for those that had already an existing digital brand. They both can include innovation and creativity in their processes.
The “omnichannel” solutions should go further than a simple website. They should understand the new implications and consumers’ new preferences.
4. The generational gap has been erased
2020 changed E-commerce reducing the preexisting generational gaps. The E-commerce acceleration forced the elder population to learn how to e-shop. At the same time, it brought a challenge to the stores as now they need to find new ways to fill these markets’ needs.
Mintel conducted a study that shows how people over 65 years old are getting used to E-commerce. It has grown by over 43% since the pandemic started, according to this survey that includes the opinion of more than 2.000 Internet users.
Because of the new sanitary policies, the elder people think about e-commerce not just as a possibility but more as a need.
5. Savings will happen on holidays.
There’s something peculiar about the fact that even though, there are more people pretend willing to e-shop, they will not spend that much money as before.
This means that the “high seasons” for shopping will suffer a negative impact. This includes Halloween or Christmas. From a global perspective, October tends to be the point of the year where shopping grows; therefore big companies release their new collections or their most expected products.
This year, at least 45% of the shopping population is considering reducing their seasonal purchases. In the COVID-19 context, sales will never reach the peak of the previous years, even though E-commerce grows.
We hope that you found the relevance of the five previous considerations included in this article regarding your E-commerce perspective. In Costa Rica there are several recent E-commerce options. Ingo, by OMNi, is one of those, so check it out for the next time you’re looking to buy through a mobile device or using your computer.
Are you purchasing less or more than before? As 2020 changed e-commerce, let us know how it has impacted your shopping behavior.