E – COMMERCE in 2020 and Beyond |  watchkitresources

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E-commerce describes any form of business transaction ran online. Typically the most widely used case of e-commerce is online purchasing, and this is referred to as buying and offering of products through the internet on almost any gadget.

Ecommerce has been projected to about $5 trillion in sales from 2020.

The Ecommerce after COVID-19

It has come to all understanding that many well known brands and businesses are succumbing to this vicious pandemic. Many of these store and brands have made little effort in advancing their online / digital presence and now that situation has made the buying pattern shifted from brick and mortal setting to mostly online even after the ease of Lockdown the tide is difficult to turn back for those that have not made tangible investment into digital aspect of their business.

With clothing  sales plummet in the months of lockdown, stores with several channels of sales became one channel which is the digital and covid-19 has finally ushered in the digital world and the consumer habit shifted.

The Digital Shift

To those still doubting the digital shift, the last few months have just driven the message home that the digital world is here to stay. For companies that have been this transformation, the next coming months will only consolidated their efforts and brings in growth especially with further advancement in the ecommerce such as chatbot etc, although the success of any company will be based on their adaptability and continue to meet the customers’ expectation.

Data era

The big e-commerce leaders are able to predict their customers buying behavior by analyzing the heap of data at their disposal from all channels e.g. social media, POS etc. The more information avail to you the you can have enough data to better understand customers’ behavior.

Savvy e-commerce businesses are turning with time

The way and what customers are looking for have changed. They are buying sport  t-shirt to keep fit especially when most have relinquish their gym membership and things like travelling bags have been on the decline. Hygiene and cleaning products and also disposable gloves and masks have been on the increase. Businesses that see these trends have shifted their business to accommodation this new line sales channesl.

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