There is great buzz about coronavirus (Covid-19). Most of the contemporary people are facing lots of fear and uncertainty when it comes to dealing with this health issue. Since there is an increasing amount of fear among masses, people find it difficult to grab adequate information about the same. Actually, coronavirus is highly influencing businesses worldwide. Whether you are running a product-based or service-based business, you aren’t supposed to ignore the impact of coronavirus on the same. From stock market to ecommerce, coronavirus has impacted the whole business world.
Is Coronavirus Impacting Ecommerce Business?
Ecommerce, B2C, B2B, and other business models are certainly being impacted by covid-19. Here, one point should be noted that there are positive and negative impacts of this virus on ecommerce business. For instance, most of the products on Amazon are witnessing downfall in sales due to coronavirus threat. But still there are different types of surgical and sanitation products, which are high in demand. So, we can conclude that there are positive and negative impacts of coronavirus on businesses online.
However, there are surgical products on Amazon and other ecommerce stores, which are high in demand, but still most of the products have to witness sales downfall. Obviously, if you are running an ecommerce store online, you must have experienced negative impact of coronavirus on your business.
Here, we are going to analyze the impacts of coronavirus on ecommerce. We will identify the impacts of Covid-19 on Ecommerce stores online.
In-person Business Events Are Being Canceled
One of the most negative impacts of coronavirus on ecommerce business is that most of the top companies have to postpone their in-person business events. Yes, in-person business events are being canceled by top companies throughout the world. Either big companies are canceling the business events or making them virtual. Let’s check out a few top canceled or postponed business events of top companies.
- Facebook has postponed its most awaited “F8” event, which is supposed to be held in May.
- The most awaited “Cloud Next 2020” has been transitioned by Google to make it online.
- Adobe has also decided to arrange its “Adobe Summit conference” online.
- “Mobile World” Congress is also canceled by its organizers.
- Other top canceled or postponed events are including –
- Shopify Unit
- South by Southwest
- Google I/O
- And Shoptalk
Having gone through aforesaid points, now it can be concluded that coronavirus has deeply influenced the businesses around the world. This is the main reason why event businesses have to cope with up to $500 million of loss.
Obviously, most of the small or midsized companies aren’t supposed to cope with such massive losses. Thus, these companies are trying to conduct events online. This is the main reason why most of the companies are going online when it comes to conducting business events.
Coronavirus Influences the Internet Shopping
However, it is true that coronavirus is a bad signal for human health, but there are various benefits of this virus for online shopping. Since most of the individuals around the world are avoiding shopping offline i.e. visiting shopping malls, stores and other places with lots of people, they are choosing online shopping. This is the main reason why most of the countries including China, USA and European countries are witnessing an increasing demand of online shopping.
Are you selling products on Amazon? If yes, then you should try to keep extra products in stock. It is seen that there are certain products especially surgical ones are out of stock now. When you have no products in stock, you are likely to lose product indexing and ranking on Amazon search system. So, keep this point in mind if you want to avoid any sort of negative impact on your business.
People Are Selling Crap Online in the Name of Coronavirus Safety Products
However, it is completely unethical, but there are people who are selling useless products on various stores online including Amazon. Since there is an increasing demand of sanitization products on Amazon, most of the people are trying to sell flashy surgical and sanitization products. This is the main reason why Amazon has terminated lots of accounts.
Here, one point should be noted that there are certain genuine products such as hand sanitizers and surgical masks on Amazon that have seen about 50% extra sales. Since there is an increasing demand of sanitizers and surgical equipments or products due to fear of coronavirus, there are lots of counterfeiters online who are trying to sell garbage.
Impacts of Coronavirus on Supply and Delivery Services
It is observed that most of the employees are trying to work from home. This is the main reason why most of delivery and supply companies have to cope with manpower issues. Obviously, the ultimate result of such a condition is that customers have to cope with delayed supply and delivery services. There is no doubt that when the demand of a certain product increases suddenly, it also influences the delivery time. Yes, it may cause delay the delivery time.
So, if you are into online business, you need to concentrate on supply and delivery services. You need to introspect about your supply and delivery solutions for end customers. If you don’t work on your supply and delivery system, you won’t be able to grab benefits of this existing situation. There is no doubt that ecommerce supply systems have to cope with different types of issues caused by covid-19.
Does Coronavirus Keep Impacting Ecommerce Business?
However, it is really difficult to predict anything about future, but it is true that coronavirus has created an atmosphere of fear. Obviously, due to fear, most of the individuals have to change their lifestyle. Obviously, when people change their existing lifestyle, they also have to change their purchasing behavior. Needless to say, witnessing changes to people’s purchasing behavior may ultimately influence the ecommerce business online.
If you are into an Ecommerce business, you should keep an eye on the current situation of market. There are certain products, which are high in demand while other products have to cope with decreasing demand. So, you need to decide how to keep your business going on.
Tips on How You Can Save Your Ecommerce Business from Covid-19
However, it is true that coronavirus is impacting the ecommerce business, but it doesn’t mean that you should wait and watch. Instead, you need to take necessary action in order to avoid business loss. Thus, you need to check out stated below tips on how you can save your ecommerce business from covid-19.
1 – Educate Your Employees about Coronavirus
One of the key reasons behind the increasing fear of coronavirus is the ignorance. Since most of the individuals don’t have adequate information about covid-19, they simply believe on anything online. So, if you want to keep your ecommerce business going on hurdle-free, you first need to concentrate on educating employees at your business premises.
When you provide adequate information about coronavirus to your employees, you can easily help them managing fear. Obviously, fear of unknown can create lots of issues. It is seen that due to coronavirus threat, most of the individuals are dealing with psychological issues. Obviously, when employees at a business premise aren’t of good mental health, they won’t be productive enough.
2 – Try to Run Your Business Remotely or Online
However, it is true that ecommerce business can easily be run online, but still there are various business tasks that should be done offline. Obviously, due to increasing threat of coronavirus, people are avoiding getting in touch with public places or gathering. Thus, you need to avoid conducting face-to-face meetings with your employees. Instead, you need to unveil the power of business technology. It means that you need to conduct your business online.
3 – Distribute Medication and Hand Sanitizers at Office
Online stores have witness an increasing demand of hand sanitizers, surgical equipments and other medications due to coronavirus threat. Thus, if you want to protect your business from Covid-19, you need to distribute medication and hand sanitizers at office. You need to provide adequate sanitization products to employees at your business premises.
There is no doubt that healthy workers or professionals at a business premise can easily increase production. Whether you are selling products online or offline, you would always like to hire healthy employees. Thus, you need to keep an eye on the health of employees at your business.
4 – Free Medical Checkup for Employees
Employees at a company are the most important part of a business process. So, if you don’t want to compromise with your business during this coronavirus threat, you need to arrange free medical checkup for your employees. Yes, you need to hire medical professionals to get your employees’ medical checkup done. Obviously, it is a great move to help your employees performing great at the business premise.
Whether you are running a shopify store or other ecommerce business online, covid-19 threat has really impacted the business. If you don’t want to witness the business loss, you need to learn how to fight against this disease. At least you need to understand the impact of coronavirus on businesses online.