The need for e-commerce in COVID 19?
COVID-19 brought with it a negative impact but also increased the e-commerce retailing and allowed the digital market to flourish too rapidly as compared to the previous decades. According to the new index, online retailing has increased by 184 percent through bank transfer that the accounting and financial scopes have swiftly proliferated.
E-commerce has evolved ever since the global government’s excessive lockdowns. Practically, almost 28 days of continuous lockdown was implemented. It led to unemployment, which suggested online marketing to retailers. It is where E-commerce became a necessity.
While making an index report for electronic commerce, the news quickly surfaced onlinethe market about online shopping. It was brought into attention that the coronavirus outbreak led to the selling of fast-moving consumer goods categories, including packaged goods with no durability. Electronic and appliances were the first category in the e-commerce market. Along with Mobiles and tablets, and fashion ranking second and third in the index.
Globally, it was perceived that the e-commerce market got attention, making everyone work their fingers to the bones. A massive increase of a sudden 76 percent made every retailer own up to their word. There was an increase in the demand for hand sanitizers and hand washes.
There is an increased challenge in the e-commerce market. The retailers have started getting more orders than usual. E-commerce had to take over cyberspace in the previous decade, but E-commerce has forcefully generated more attention at the end of this decade. The banks have subsided the charges made during transactions and debit since direct cash transfer is no more preferred.
Everywhere direct contact between the buyer and the seller is avoided as much as possible. E-commerce lets the clients handle everything online, from receiving the order to undergoing payment methods and filing complaints. Whereas, the buyer only has to place the order.
It was brought into attention that increasing index in the commerce market is efficient since many retailers and recipients have finally come across accepting that online marketing is well working and the only solution for these uncertain times.
The total e-commerce revenue is mostly dependent on online shopping. Previously, many buyers were not as sure, but COVID-19 precautions have allowed the same traffic to place multiple orders.
Many startups who were not getting acknowledgment before, have progressed by getting more traffic globally. The revenue market made an unexpected increase in income by 8 billion dollars in 2019, but in 2020, it has immensely increased by 30 to 40 percent in Pakistan. Since online retailers are getting traffic more than usual, it has led to late deliveries and replies to the complaints.