The e-commerce industry has been impacted on both demand side as well as supply side. Virus related products such as soap, sanitizes, mask, tissue and others has witnessed an enormous rise in demand. Due to the imposed of certain limitation, some companies are not able to respond the changes or adapt it quickly.
Imbalance of fulfilling the consumer’s demand with respect to groceries and other essentials item has made the e-commerce industry into limelight due to the COVID-19 pandemic. As the people have two options either to visit the supermarket personally or to order their respective product via online.
It has led to the rise in popularity of digital e-commerce web platform like shipt, Walmart, Instacart, Amazon and many more as numerous people finds digital e-commerce services reliable and safe during this time. Almost every customers practicing social distancing rely on this home delivery service the most and are willing to continue this for the next time as well. This has also changed the shopping behavior of the consumers on the geographical level. For instance, it has been witnessed that as compared to U.S., countries like Germany, U.K. and Japan do lack in shopping criteria basically in essential food items and groceries. This can be due to the leniency of U.S. law towards this COVID-19
The upcoming festive sales are expected to push up the annual gross merchandise value (GMV) of e-commerce companies to around $38 billion, a growth of 40 per cent from the previous year. With Covid restrictions playing a spoil sport for physical retail, e-commerce festive sales could cross the $7-billion mark, according to a report by research firm RedSeer Consulting.
Retail E-commerce Software Market report analyses the impact of Coronavirus (COVID-19) on the Retail E-commerce Software industry.
Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Retail E-commerce Software market in 2020.
The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; emergency declared in many countries; massive slowing of the supply chain; stock market unpredictability; falling business assurance, growing panic among the population, and uncertainty about future.
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E-commerce is growing at a annual rate of 23% as India, china and U.S. are known to be the biggest contributor for this growth. In today’s scenario mostly these three countries are only highly impacted due to Covid 19. In U.S. till now 10,000 people died while India is still trying to combat the Covid 19 impact with the strategy known as lockdown whereas, China seems to have a control over this pandemic situation. The China’s biggest e-commerce player Alibaba has contributed over USD 2.0 Billion of medical supplies to different countries such as Sri Lanka, U.S., Italy and U.S.
U.S. government is yet to announce any lockdown but the e-commerce stores are still working on and continuously involved into delivering products to its customers. Ever since the outbreak of Covid in U.S. companies like Amazon, Walmart and Instacart have faced a rise in the online orders. It has been witnessed that in first few weeks of March, grocery orders has jumped to 210% and is also expected to remain the same in this post-pandemic.
European Union asked the e-commerce companies to focused on manufacturing, designing and selling the products which are repairable and recyclable in the March first week. But after the rapidly increase of Covid, the e-commerce players were asked to keep a hold on these request and to continue offer the essential services. It results into building pressure from the consumer’s side with respect to catering huge orders on time. This leads to black marketing and hoarding of products and thus to eliminate this, e-commerce site put a restriction on multiple items. Such type of attempt has helped the overall e-commerce companies and even ensures that each customer should have an access to the essential products only.
By directly affecting production and demand, by creating supply chain and market disturbance, and by its financial impact on firms and financial markets.
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