UPCOMING E-COMMERCE TRENDS IN THE POST-COVID ERA AS BRANDS CONTINUE TO SEE A SURGE IN PRODUCT DEMAND

The Covid-19 pandemic blindsided the whole world and upended the conventional ways of doing things.

- Surbhi Bhatia

Undoubtedly, it has been a defining event of the year and will have implications that will well continue into the decade.

One of the ways that people have coped with this period of isolation and uncertainty has been by altering their shopping behavior. From bulk-buying to online shopping, people are changing what they’re buying, how and when. It can be safely said that the coronavirus pandemic has completely transformed the e-commerce landscape and has massively accelerated its growth.

What people are buying is changing too. It is, perhaps, returning more to the relatively normal consumption patterns. Electronics and apparel purchases saw a surge of 11% and 12% respectively. People are working from home, yet they shopped for clothes with the rationale being that it’s been a while since they bought new clothes. Prices are also witnessing a change. Grocery prices have gone up by 4% since May as compared to 2019.

Major Trends Expected to Emerge

Over the next period, e-commerce businesses will need to be much more careful about how they approach the future.

• First and foremost, they will have to adopt risk-mitigating strategies that allow them to continue reaching their customers. These will include diversifying supply chains, more reliance on automation, implementing DTC models and reinventing the entire business process. They will also need to pay more attention to meeting customers’ demands.