Pandemic has changed the way of living. It has its pros and cons. Staying in isolation and a fearful environment due to covid is taking a toll on the meet people’s mental health. On the other hand, people opt for a healthy lifestyle where yoga, a balanced diet, and extracurricular activities come into play. People want to stay happy and positive, and with that, online interaction with friends and family has become part and parcel. Instead of procrastination, they want to use their extra time in building their skills by joining short time online courses. There is an excellent rise of online shopping due to the increase in consumer spending across the globe.
- Our mobility is restricted; students are learning online instead of going out to schools. All the tuition, dance classes, gyms have turned to online modes. We can’t go to nearby parks for jogging; instead, just walk around your house. As we all know, how dangerous is it even to go out to buy regular groceries? No crowded shopping is what is recommended. Buying all the needed products is possible with online shopping.
- All the people are shopping online, which results in the rise of online shopping due to which consumer spending online increases. The year 2020 has been a booming period for online businesses. All are potential customers; what e-commerce needs to do is provide the customers with its best services. There is a drastic change in online shopping growth statistics.
- The push that shoppers got from pandemic to buy online is a highly favorable thing for e-commerce. E-commerce growth rates have been exceptional as nobody thought of such a rise in online shopping.
- The traditional traders who never thought of shifting to online business are left with no other option. What the study says is that after the pandemic also, customers will continue to do online shopping. Customers are getting familiar and comfortable with the services online businesses are providing. The ease they are feeling is getting them to enjoy the process of online shopping.
- Not all e-commerce businesses are trustworthy and authentic, some are just to scam and fraud. All the fake online companies eventually result in weakening loyalty and trust they built on companies. But on the other hand, customers are now more aware of how to shop securely by checking the reviews and services the brand is providing. How active and sincerely they are assisting social media platforms. We all know potential customers believe more in the claims of the existing customers, so the company’s feedback helps the customers figure out whether a company is a fraud or not.
- Online spending statistics are shocking. Customers’ online shopping rise seems to be irreversible because the results they are getting out of it are more than satisfactory. The established e-commerce business has attracted the attention of customers’ quite quickly, already accepted e-commerce business first ones to gain or deserve the potential customer’s trust. The small retail stores are suffering losses, but the big brands are also forcefully shutting the stores due to losses.
- The year 2020 has accelerated the digitization world, and there is no going back even if the situation with the pandemic gets relatively better. There is strong growth in buyers and sellers. They are indulging in repeated purchasing, which was not that common before 2020. Only loyal customers used to do that. The profits these companies are earning is sky-high. Even the new e-commerce businesses will be relatively successful in 2020 if they deliver safe and authentic services because more potential customers are waiting for exemplary services to be provided online.
- The other advantage customers get is that they can grab more deals and discounts online, which they never experienced in offline stores like cash back facilities, extra 15% discount on first purchases, and many more. Customers are now able to manage their spendings. They manage to spend online with secure methods like credit cards and mobile wallets, which helps track their expenditures.
Will eCommerce Growth Remain the Same in 2021?
- As per the experts, the online shopping growth rate would increase because people who only deal in necessary online shopping will push their boundaries to indulge in other online activities.
- For example, a family used to buy only grocery items online because they don’t have any other option during this period. But slowly, when they feel that their experience was good, they may try to take yoga classes online, which will be healthy or buy a guitar to enhance their instrumental skills. They would try online services in other sectors also. So online shopping is growing, and therefore online spending rose multi-fold in 2020.
- Once you provide customers with what they want without any inconvenience, abandoning their old habits becomes easy.
- In 2021, E-commerce will grow, whether it is a new brand or an already established one, there are umpteen opportunities of earning good profits, but the competition is equally high. To attract more customers and traffic, you need to ramp up with your customer delivery services, have an exceptional marketing department, and take care of customers’ needs. Influencers are becoming an integral part of digital business. The brands are approaching them to reach potential customers. Sometimes customers’ buy products just because they are a fan and have trust in that influencer. This kind of marketing where followers of others help the brand is a great strategy.
- With e-commerce expanding, your business in foreign countries becomes much more straightforward. Internet availability has nullified the geographical boundaries. Establishing business across borders could take time initially, but if you pick up suitable methods such as communicating your customers in their language or offering free delivery would help in creating the interest of the potential customers.
Desertcart is one of the top e-commerce websites where you can find 100+ million products. The brand has expanded itself in 163 countries by using good marketing skills and portraying itself differently than its competitors. To remain at the top of the game, you should stay aware of fast-changing trends and changing consumer shopping behaviors. Otherwise, competitors are ready to snatch your customers.
All in all, e-commerce business and online spending will continue to grow in 2021.