Effect of Covid-19 on retail channels & the most effective way to overcome it
Effect of Covid-19 on Retail Channels & the most effective way to overcome it
By Nikhil Kumar | April 03, 2020
Tackling this unprecedented challenge requires a systematic approach and the mobilization of all stakeholders to respond. With a population of 1.3 Billion people and a high population density, it’s going to be challenging to avoid a large-scale community spread of the Coronavirus. With a planned approach in terms of travel restrictions and going far enough to impose a nationwide lockdown for 21 days, India is surely at the forefront of the Epidemic as for now.
Though the order of closure of malls and multiplexes across many top cities by the respective state governments to prevent people congregating for any reason has caused the organized retail scene in these cities to come to a grinding halt, the ‘Ecommerce platforms’ have reported a sharp surge in sales of staples, daily necessities and personal hygiene products in the past few days as panic buying took hold across India.
SINCE THE BEGINNING OF THIS PANDEMIC, IT MAY BE PERTINENT TO POINT OUT THAT ONLINE SALES HAVE INCREASED BY 52% IN COMPARISON TO THE PAST FEW YEARS, AROUND THE WORLD.
Amazon’s plan to hire over 100,000 employees to meet the demand for immediate delivery of essential goods is evidence of the boom in the eCommerce sector. Additionally, Big Basket witnessed order values going up 20% on average while Grofers registered an increase in demand of around 80% in Mumbai alone over the weekend while cities like New Delhi and Bengaluru clocked an average of 50% spike in the past two weeks. Orders are up 45% by number and 18% by value over the last 10 days.
Though the demand for eCommerce has risen around the world, we are still struggling to find an escape from the scare of COVID-19 and in view of the same, it is only justified that one may be sceptical about launching their own online store. Like it is said, it is never too late. Now may be an essential time to offer a channel to your customers that doesn’t require them to step out of their homes and you can ensure an efficient generation of revenue and continuous service to the customers. To live up to the opportunity, we can assist you in the following ways:
- We assist our clients in setting up quick online stores, in as little as 3 weeks, to meet the current urgent and surging demand for eCommerce.
- We pioneer in driving relevant traffic to your web store to give a kick start to your online business.
- Additionally, through Artificial Intelligence and Data-Driven Analytics expertise, we ensure that there’s an increase in the conversion rates, thereby generating revenues for our clients.
To point out the obvious, customers would prefer an online delivery at their doorstep with a lesser chance of virus contamination. It is indeed the right time to SETUP & GROW your online channel. Starting your own brand eCommerce store is more important than ever to not only comply with the changing consumer habits but also provide convenience and support to existing customers.
For more advice on setting up your own web stores and developing your online business, connect with our team at firstname.lastname@example.org and we will ensure that we bring to you cost-effective and efficient ideas to give a boost to your business.