Fyndhere

 The impact of Covid-19 on eCommerce-

2020 was a challenging year for many. At the same time, eCommerce grew like never before. During the global shutdown in the spring of 2020, it appears that most eCommerce enterprises reported a boost in an online income. According to the survey, 90 percent of businesses observed a rise in online sales, with 50 percent reporting increases of more than 100 percent. Despite this, 6% of respondents report their eCommerce income fell during the shutdown.

• COVID-19 forced shops around the world to shut for months and recently reopen under strict new guidelines.

• The time in lockdown has caused an e-commerce boom, with the pandemic accelerating the shift away from physical stores by roughly five years.

• While department stores are expected to decline by over 60%, e-commerce is expected to grow by nearly 20% in 2022.

As the COVID-19 pandemic reshapes our world, more consumers have begun shopping online in greater numbers and frequency. Department stores, as a result, are seeing significant declines. The COVID-19 pandemic in 2020 altered the entire globe and forced everyone to adjust to a new way of life. Despite the different industry crises, eCommerce is still very much alive. Food, clothing, entertainment (and what else to do while you're locked up and can't leave your house?), children's and animal items, and so on will never stop being purchased.

In this factor, we came across lots of start-ups and Fyndhere is one among those, here we can post our requirements, and then the vendors of that category will automatically approach us with their price and if we are ok with the price and product then we can close the deal.

The pandemic of COVID-19 has hastened digital transformations. Some economic and social practices are becoming increasingly dependent on digital solutions. They've been important for telemedicine, telework, and online education, not to mention keeping our social relations alive in times of physical separation. We've also seen e-commerce expand in developed countries, with long-term implications. However, unless adequately addressed, existing digital divides are likely to result in even greater inequalities.

The critical global policy challenge that emerges from this study is that greater efforts are needed to help reduce inequalities in e-trade readiness that currently prevail amongst countries.

E-Commerce’s Impact on Small Business in the Age of COVID-19:

Since March 2020, the COVID-19 pandemic has impacted virtually all aspects of our daily lives. Zoom meetings have replaced conference room gatherings. Kids attend classes from kitchen tables. Family movie nights are likely to involve a first-run film streamed to a television, not a trip to the local cinema.

The retail sector certainly has felt the upheaval of the pandemic. But despite what some may think, not all of the news is bad. Retailers have found new ways to connect with, and serve, customers, particularly through e-commerce. Retail sales numbers for Q3 and Q4 2020 prove that customers are willing to spend both online and in stores — but their expectations for the shopping experience have changed.

To be clear, e-commerce was here to stay long before COVID-19 entered our collective vocabulary. In 2019, online sales made up 16 percent of total retail sales, up from 7.6 percent in 2013i.  Statistics show a relatively steady increase in e-commerce’s share of retails sales from 2013 until 2019.

I would like to conclude by saying that eCommerce has seen a boom due to this pandemic and those who use this opportunity could shine in the future. If you don’t think that e-commerce will be the future then you are the loser while those who use this platform would be the winners.