To date, 2020 has been an interesting year for all of us, to say the very least. The Coronavirus crisis has had a huge impact on individuals and business all over the world. Many businesses have had to close their doors for good, others are struggling to survive, and the future is full of uncertainty for many more. However, some businesses have managed to weather the storm and even thrive in the current climate, growing their operations, increasing sales and gaining more customers than ever before.Â
The majority of businesses that have seen this kind of success are in the e-commerce niche. As more and more companies have had to close their retail premises due to government restrictions, there has been a massive influx of customers online. Many consumers, who have never completed a transaction online, are now entirely familiar with the world of eCommerce and how it works. Having this situation all but forced on many consumers has resulted in a staggering growth of more than 80% year on year (YOY) growth in e-commerce in Australia in the eight weeks after the WHO announced the Coronavirus pandemic in March.Â
Let’s take a look at how e-commerce stores have been able to thrive throughout 2020.Â
Competitive Pricing
Even after retailers calculate GST and add it to the retail price, the final price for the consumer is still very competitive, especially compared with traditional brick and mortar stores. With less staff to employ, no expensive high street store rents to pay and less in overheads to worry about overall, online retailers can pass these savings to shoppers. Competitive pricing has not only grabbed the attention of the general shopping public but it is likely to keep them coming back to e-commerce stores in the future.Â
Ease Of Use And Access
Over the last few months, consumers have had restricted access to retail stores, however, consumers’ will to spend has not declined. In fact, many consumers have embraced having the ability to shop from the comfort of their homes, or from anywhere that they please! With consumers more connected than ever, the ease of access to online retail stores is at an all-time high. And, with online retailers continuing to focus on improving the online shopping experience, it is more straightforward to shop online than it has been in the past.Â
Quick Delivery And Returns
While online shoppers once had to endure long waiting times for deliveries and complicated return processes, this is now a thing of the past. Improved logistics have enabled online retailers to offer quick delivery options at very affordable prices. Many eCommerce stores offer free shipping on orders above a certain value, premium next-day delivery options and free returns that are easy for consumers to arrange. Offering consumers a simple, straightforward retail experience online has helped eCommerce stores to grow and expand throughout 2020.
Customer Communications
The array of social media platforms provides eCommerce store owners with a highly-effective channel to communicate directly with consumers. In addition, online retailers send out emails with attractive special offers and discounts to existing customers and those that sign up for marketing emails. Having the ability to reach consumers directly, allows eCommerce stores to reach their target demographic with ease, increase sales and ultimately improve their bottom line.Â
The Future Of eCommerce Looks Bright
How consumers shop has changed dramatically in the wake of the Coronavirus pandemic. Although the number of eCommerce stores has risen steadily over the last number of years, the boost that many stores have experienced in the wake of COVID-19 is unprecedented. With a lot of uncertainty ahead and more consumers becoming more comfortable shopping online, the future looks bright for eCommerce store owners.Â
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