Global e-commerce selling and shopping trend are moving upward started a couple of years back. In recent months after declaring lockdown in many countries worldwide, the demand for e-commerce products has got a new dimension. Since people cannot step out of home, they are utilizing digital methods to buy necessities from the quarantine situation. While the sales of the e-commerce and retail industry are going skyscraper, the manufacturing and production of goods are going down due to the same reason- COVID 19 lockdown. An economic downturn is going to hit the world that surely will be the cause of a massive disaster. Considering all the sides it can be said that coronavirus has brought about a huge change in everything after 2020
Let’s head over the sectors and data where and how COVID 19 has hit and what is the outcome. It is for the serious readers who are creating research papers, marketers, advertisers, and more working worldwide with e-commerce facts during the pandemic corona.
Ans: As of 2020, the number of worldwide potential e-commerce and retail buyers is 21.8%. Due to the COVID 19, this number is growing and in the next years, we assume, the number will be higher rapidly breaking previous records. It sounds great for the online business owners, but keep in mind, big competition comes with big markets. The e-commerce and retailers should be more conscious of everything like customer service, product delivery, cope with the on-demand products, safety measures, and a lot of preparations.
Ans: keeping e-commerce growth statistics in close observation, experts prospect that e-commerce and retailers sales online will reach $4.8 trillion and it will happen by 2021.
But for COVID-19 and lockdown issues, there is an imbalance between the production and demand of products. Let’s see whether it happens or not ultimately.
Ans: Men spend 31% more money. While men spend $220 per transaction, women spend $151 per transaction. Men buy costlier products than women. They purchase technology and luxury items, and women buy cheaper items like foods, clothes, and makeup products. Women like to shop going shopping malls whereas the male part chooses online shopping. Men buy in bulk and for their family members.
Ans: It is thought the millennials will buy more than any other age group. But not it is clear that their position is at number three. The study says generation X (ages between- 40 and 60 years, born between- from the early-to-mid 1960s to the early 1980s) buys the most from e-commerce. The second position goes to the baby boomers (born between 1946 and 1964).
Ans: Oberlo has shown in their article that 85% of online shoppers decide on what to buy after reviewing the product reviews. They check beautiful product photos, well product description, compare prices from store to store- all these are true. But reviews play a vital role in making their buying decision. Positive and negative both influence the shoppers. Only positive reviews make the product suspicious. What users further check are-
◼️ Review product quality and overall content
◼️ Quality of attached product photographs
◼️ Time and date of reviews
◼️ Negative reviews
◼️ Star rating or mark
Ans: According to the research of Baymard Institute, over 69% of online shoppers abandon their shopping carts. It has numerous reasons. The foremost reason is the excuse “just browsing”. There are other reasons like delivery charges, taxes, fees, and extra other costs. Not only that, but a complicated checkout process is also responsible for abandoning carts. However, don’t worry. If you send them an email for remarketing purposes later, you will get a good response. Such an email open rate is over 45%. A trick of free shipping above a specific value can work greatly to boost e-commerce sales.
Ans: ‘Free Shipping Campaign’ can act tremendously to maximize your online sales and revenue. Sleeknote explores 24% e-commerce shoppers spend more to avail of the free shipping condition. Do an AB test, share free shipping offer to social media, and enjoy the magic. Such a campaign is so much actionable as of the social media e-commerce stats.
Ans: People use social media with great importance. 75% of users admit that they find anything to buy on social media first. Roughly, as of 2019 statistics, 45% of people use social media in the world and they spend an average 2 hours and 23 minutes a day on these websites. Now imagine how it has got increased in this quarantine circumstance. However, e-commerce and retail stores active on various social platforms have 32% more sales since they can create vibe among the users of their multiple offers, discounts, and other facilities.
Ans: PayPal has 305 million active registered users globally. This stat shows how the number of shoppers uses cards to buy from e-commerce. About 42% of the global e-commerce buyers prefer to use credit cards for shopping from the online store. The use of cards has made transaction methods easier that pushes people to spend more.
Ans: The hot product lists of online shopper are-
◼️ Electronics & digital media like video games, music, e-books, computers, phones, photography gaCOdget & gear, etc.
◼️ Fashion items like clothes and footwear
◼️ Groceries and food
◼️ Transport and travel services
◼️ Wellness and beauty
◼️ Cars, vans, and bikes
◼️ Stationery and work supplies
Ans: The e-commerce platforms get product images from multiple sources, such as-
◼️ They can take Photos directly from the product manufacturers
◼️ They can search the product in other online stores and shoot photos
◼️ They can produce an image by schematic drawings in Adobe Illustrator
◼️ By compositing images in Photoshop
◼️ They take an image from an in-house studio
Though the above e-commerce statistical data is collected before the COVID 19 or somewhat at the beginning of 2020, they are useful yet during this crisis. Some of the data indicate the everlasting trends and indexes. The value and property can be varied, but the trends will be the same. However, researchers, marketers, advertisers, and so on can find here inspirations to fix their futuristic knowledge streamline.