How COVID-19 Is Affecting E-commerce
Expert Tips For E-Commerce Marketing
The coronavirus (COVID-19) has undoubtedly left an indelible impact on the world. Thousands of people have been infected with the virus with many unfortunately perishing as a result.
This is not to mention the millions of people who are currently unemployed due to government regulatory measures to restrict physical movement. Overall, the effects of COVID-19’s impact can be felt worldwide.
Interestingly, the virus has caused a certain trend to form in the e-commerce sector. If you are currently running an e-commerce marketplace, then you should continue reading to learn more about how the coronavirus could potentially alter your business.
Millions Are Staying at Home
Again, the coronavirus is an airborne affliction that requires extended quarantine periods to restrict its growth in communities. As such, state governments in conjunction with the federal government have mandated a quarantine period, keeping millions of people at home.
Of course, these people still desire to carry on with their everyday lives even though it’s been altered. Without a lot of outside options to carry out grocery shopping duties, purchase essential products, and splurge, many are turning to the internet for a solution.
According to the senior enterprise contributor at Forbes, Louis Columbus explains that mandatory stay-at-home periods have increased the appetite of e-commerce shopping since not many other alternatives exist.
“In many families, online grocery, apparel, and entertainment shopping will replace store and mall visits permanently until a vaccine is available.”
In addition, key global trends point to a correlation between stay-at-home orders and e-commerce industry growth.
- The year-over-year (YoY) revenue growth of online retailers has increased by 68% as of Mid-April, outgrowing a peak percentage of 49% in January.
- There is currently a 129% increase in the YoY growth of online retailers in the United States and Canada, as well as a 146% increase in all online orders.
- Conversion rates online have increased by 8.8% since February, highlighting a renewed sense of urgency online products not seen since Cyber Monday.
With more people at home, online shopping has become ubiquitous throughout the world. This puts pressure on online retailers to make changes to their marketplaces and internal marketing strategies to accommodate the growing surge of consumers.
Increased Mobile Usage
The domination of mobile usage in today’s global internet traffic is nothing new. According to Search Engine Land, nearly 60% of all online traffic comes from mobile devices. However, since the dawn of the coronavirus, mobile online traffic has skyrocketed.
Per the PYMNTS’ 2020 Remote Payments Study, 72% of consumers are using mobile devices to purchase online products. As a result, e-commerce retailers have to be mindful of how they can optimize and curate positive user experiences for all potential customers.
This means leveraging fundamental mobile optimization strategies to improve the responsiveness of their platforms. Hiring a web development agency to audit and performance improvements will be necessary for getting your marketplace ready for today’s new crop of consumers.
More People Will Continue Shopping Online
Stay-at-home orders are currently interim, at least in the larger states of the U.S. where the coronavirus has run rampant. This, however, doesn’t mean that these trends will decrease any time soon.
A Morning Consult study concluded that 24% of consumers wouldn’t shop at a mall for at least six more months. This makes sense, being that a vaccine for the coronavirus would have to be available before larger stores and outlets could be safely reopened.
This could mean that current e-commerce trends could continue growing. After all, online shopping is more convenient than any other alternative. Also, younger generations value convenience more than anything else when making a purchasing decision.
How to Optimize Your E-Commerce Marketplace
As you can see, COVID-19 has tremendously affected the growth of the e-commerce industry, albeit in a positive way. This growth is insofar of how proactive you are in adapting your marketing strategy to fit the changing times.
Remember, just because more online shopping is taking place doesn’t mean consumers will settle for any marketplace. It only means that the saturation of the e-commerce industry has increased, so there are thousands of retailers fighting for position.
If you want to stay afloat, here’s how you can revamp your marketing strategy.
- Make sure that your e-commerce platform is mobile-friendly. This is absolutely essential as there are strict penalties for not having a responsive website.
- Reduce the friction on your site. Friction is defined as an obstacle that prevents a potential customer from converting. Therefore, ensure that your website is simple to navigate.
- Increase the speed of your website and perform a technical SEO checklist to make sure that your marketplace will rank online and be seen by your target audience.
How Agency Partner Interactive Can Help
Agency Partner Interactive is a boutique digital marketing agency, specializing in creating high-performance marketing campaigns. We mainly provide services to e-commerce retailers.
By working with us, we can get down to the bottom of your marketplace’s failures and formulate an effective solution to increase its web traffic and conversions. Our decisions are based on highly-qualitative data.
Therefore, you can always be sure we are making the right decisions to help you achieve the highest return on your return on investment (ROI). SEO is very technical expertise and requires the brightest minds to have any effect on your campaign.
If you want to put a proven professional in your corner, look no further than Agency Partner Interactive.
Give Us a Call Today!
The coronavirus has changed the way we do business. Unless you have a strategy to overcome your losses and reinvigorate your bottom line, it will be complicated to surpass your competitors and survive.
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