With the continued spread of corona virus, we want to take a look at some of the changes that we might see in the ecommerce business world post corona pandemic.
We are very well aware that globalized travel and trade, multinational supply lines, offshoring and overly financialized economies that have prioritized banking interests, cartels and oligarchy above all else have made a large portion of our population highly vulnerable to the effects unleashed by this pandemic. Businesses from all shapes of life are placed in precipice of change, especially B2B and B2C businesses, where people interaction is paramount and goods constantly passes from hands to hands. Some coping with the changes well while others brace for the worst.
The question remains: will these changes stay for the long haul? The answer are all speculation at this point. Most of them may not, and will not, but a part of them will. Hence, we are going to take a look at some of the things we could see changed in the business world after the corona virus pandemic.
The rise of formal remote work plans for employees
Beyond taking the intuitive step of enforcing a clean workplace culture, businesses are also preparing formal emergency remote work plans to protect the well-being of their employees while maximizing productivity. Diversifying their work through offshore and nearshore alternatives.
With the current situation, businesses continue to focus internally, but there is a need for them to be aware of the opportunities that lies ahead, especially with ecommerce market poise to take giant leap after this chaos.
A vast army of knowledge workers looking for jobs
Businesses in the US and Europe could benefit from what we saw happened in China after the lockdown was lifted. Hiring these workers to remotely handle tasks ranging from coding to media buying, to back-end and front-end development of ecommerce systems, could bring great value to companies looking to replace office staff in favor of work-from-home individuals.
Imminent travel and tours rebound
Traditional knowledge markets like India and Eastern Europe should go to China. It is also important for businesses to prepare for the imminent travel rebound that will occur once the coronavirus resolves.
Travelers will attempt to make up for the lost time by seeking out long-term and atypical (i.e. bucket-list and soul-search) travel experiences. Businesses in the US and Europe that hope to reap the benefits of post-coronavirus era travel trends will need to maintain their respective share of voice when marketing to travelers.
Online grocery and pharmacy will continue to prow in popularity
Specific niches of ecommerce, such as grocery and pharmaceutical delivery, have developed unstoppable momentum and will continue to grow in popularity long after the pandemic is gone.
This changes in ecommerce not only benefits B2Bs and B2Cs, but will be great opportunity for ecommerce developers and system providers looking to expand their business.
Live Streaming Will Continue to push ecommerce upward
Livestreaming played three essential roles in times of quarantine and lock down: It provides needed entertainment for boredom. Secondly, it helped customers better understand products, and lastly, it closes sales almost as good as one-on-one direct selling. Customers viewing products in real time had a higher propensity to make a purchase.
While livestreaming ecommerce is still in its early stages, it has become a game changer for big ecommerce like Amason and B2B giant Alibaba. JD.com says, plan now is in the works to build their own livestreaming ecosystem.
Health and wellness will shift toward preventive measures
Traditional industries outside of health and wellness will start offering more products and services geared toward preventative measures for epidemics like online checkups, and online consultation, as well as online pharmacy.
Medical and wellness tourism likely to rise with people take proactive role managing their health
Tourism industry will also see sustained long-term changes, with medical and wellness tourism likely to rise in popularity as travelers start taking an increasingly proactive approach to manage their health. Company websites will have to adapt ecommerce capabilities to handle payments, as customer will continue stay away from cash payments and implement social distancing.
What is next???
We maybe ushering in a new era, a really cash-less society. The age of digital currency. But no matter the changes in ecommerce are, life will go on, and it will serve us well to have an ecommerce platform that not only is up-to world standard but more importantly provide value to your brand.
Shoptech Media is an ecommerce platform that provides functionalities that many big ecommerce platforms out there does not! Our goal is to give our clients an edge with store management, analytics, email management – all in one place! Giving you the best option you can have for your ecommerce webshop. All you need to do is send us your message via our contact us page.