Coronavirus Impact on Global Ecommerce: Data & Tips for Survival
Since the start of the COVID-19 outbreak, the world has suffered a lot of changes. People now have to continue social distancing, wear masks when they are in public, disinfect and wash their hands frequently, work from home among other things. Keerp reading about Coronavirus Impact and consecuences!
This virus has affected every single aspect of our lives and has brought major changes to them. Today in this post, I would like to share with you some of the coronavirus impact on global ecommerce data so that you can get ready to face what it’s coming and develop correct strategies and Covid-19 marketing actions that will allow you to take advantage of this situation.
How coronavirus affected worldwide ecommerce
Since the start of the global pandemic, ecommerce has grown a lot. During the lockdowns, the internet was the only way that people had to buy the products they needed or wanted as they were unable or just unsure of going to physical stores.
As we can see in the chart below (source: We are Social)
The percentage of people who admitted spending more time shopping online has grown around:
- In the age range of 16 to 24: 44% for female and 47% for male.
- In the age range of 25 to 34: 50% for female and 55% for male.
- In the age range of 35 to 44: 48% for female and 52% for male.
- In the age range of 45 to 54: 40% for female and 44% for male.
- In the age range of 55 to 64: 33% for female and 30% for male.
The country that has experienced the greatest increase in terms of online shopping is China, with a 67% percent growth, followed by Singapore with 46% and USA with 41%. China was already considered one of the countries with the highest ecommerce acceptance rate among the population, so it’s not surprising at all that they have increased even more during the lockdown period.
The ecommerce categories that have significantly increased their traffic during the Covid-19 outbreak are:
- Supermarkets, with a traffic increase of +251%.
- Retail tech, with a traffic increase of +78%.
- Media, with a traffic increase of 56%.
On the other hand, the ecommerce markets that have decreased traffic during the pandemic are:
- Tourism, with a traffic decrease of -72%.
- Luxury items, with a traffic decrease of -28%.
- Jewelry and watches, with a traffic decrease of -7%.
Tourism is the sector that is suffering the most due the pandemic, as people are not allowed or too scared to travel, we expect this situation to continue for at least 8 months.
Advice for any ecommerce owners amid coronavirus
According to We Are Social Media, this is what will play out over the next few months:
- The growth in the categories will be maintained or it will even increase a little bit more.
- Ecommerce stores should be focusing on online advertising because everyone is on the internet right now, so this is the perfect moment to invest in online advertising to get more potential customers for your store.
- Once you know which products are being demanded, think about the possibility of adding those products to your store’s catalog and get extra sales.
- Create some special promotions to attract more customers.
- Customize the email communication with your customers.
- Social marketing can work well, consider donating some funds to help hospitals.
- Have active social media profiles and don’t lose touch with your customers.
As you can see, e commerces are not that affected by the Covid-19 outbreak and they even managed to grow during the pandemic. The category of Food & Groceries growth and the huge traffic increase of the supermarkets e-commerce was really impressive but also previsible as people will not go to crowded places so they don’t take any risks of getting infected by the virus.
The huge decrease of the tourism sector was also previsible, this is definitely not the best time to travel and meet other people or countries. And it will remain like this well into 2021 at least.
During the crisis period, there are also opportunities that are born. So take advantage of it and stay strong!
Did you like our blogpost? Did we miss anything regarding the impact of the Covid-19 pandemic on ecommerce markets? Let us know in the comment section below!