3 Ways The Corona Crisis Will Change E-Commerce Forever
Even though lockdown restrictions are easing here in Australia, as well as in other parts of the globe, the after-effects of the pandemic will likely last MUCH longer – none more than in e-commerce.
But what will it mean for us who make a living selling on Amazon and other online shopping platforms?
There’s no denying the pandemic has impacted the e-commerce industry heavily over the last few months, but experts believe the industry might see a permanent change.
As savvy internet business folk, we need to know about what might await us. So here are 3 ways the coronavirus could change e-commerce forever.
- Online shopping will become the new normal
Even though the shift was gradually happening anyway, the recent events have been like making it drink Red Bull.
People who normally choose to go to physical shops to buy clothes, electronics, groceries etc. have been forced to embrace technology and buy online. Even though many will go back to the mall once it’s open, industry experts believe new habits will already have been formed.
On average it takes around 2 months to successfully adopt a new habit, whether it’s quitting smoking or changing your shopping routine, so after several months of lockdown, it’s highly likely online shopping has gained a host of new fans.
People who were once spending their dollars offline are now looking to buy online. As an Amazon seller, this should be getting you excited.
- Sellers will source products more locally
When the pandemic was in full flow, the factories in China closed down production hitting business all over the world who depend on cheaply-made goods.
It’s a lesson in not putting all your eggs into one basket (Made In China, naturally). As the lesson hit home that we shouldn’t be depending on one country to supply ALL our products, many sellers have been forced to source from their own continent, country, and even town.
Sure, the cost of production will no doubt be higher – especially here in Oz – but there are plenty of benefits too.
As well as drastically reduced shipping cost and time, it’s much easier to visit and build a relationship with a local manufacturer than one based the other side of the world.
Made in Australia, Manufactured in the UK etc. sounds more attractive than Made In China to your audience too.
- Non-essential items might see a drop
Even when the lockdowns finish and the threat of the virus eases, many will be feeling a financial hit.
A global recession could mean the loss of businesses and jobs and generally less spending on more frivolous items.
For us sellers, this doesn’t mean we should swap our entire inventory – but think about diversifying your range. Don’t just rely on luxurious back scratchers for all your sales for example.
These are truly crazy times for everyone, but it’s important to remember that with great disruption often comes opportunity – so be smart (and stay safe!).
Thanks for reading. If you’d like to learn more about selling on Amazon, check out my other articles.
Lots of love!