Lockdown? consumer buying behavior could shift to online purchases. Is your business prepared to meet the needs of the evolving customer?
If anything, COVID-19 has taught us is that you could put your business at risk of not being able to service your customers.
If you already have a shop with a physical presence, or are considering starting a business, here’s why now is the time to think about opening a shop online.
Customers’ shopping habits will change
One thing is evident, customers’ shopping – and spending habits – will change during and post the COVID-19 lockdown. Pre-lockdown panic meant consumers rushed to stores to bulk-buy, while shopping limited to essentials during lockdown.
- 50% of Chinese and 31% of Italian consumers indicated that they are shopping online ‘more frequently’ to buy products they would generally buy in-store.
- While in Vietnam, India and Russia, consumers are also turning to online shopping – as increased use was measured at 57%, 55% and 27%.
- In recent surveys conducted, one-third of men, reported that the pandemic had affected how much they spent on shopping. While, compared to 28% of women, 36% of men indicated that the current crisis had affected how much they spend on experiences (travel, restaurants, entertainment, etc.).
- Interestingly, men were found to be shopping online more than women, including favouring options of limiting in-store interactions.
- Subscription and convenience services have also seen a significant upward trend in revenue and conversion during the COVID-19 pandemic.
Consumers are becoming vigilant about exposing themselves to the virus by avoiding highly congested shops and malls, and rather opting for a safer shopping option.
How you can move your business online
There are a variety of international ecommerce platforms to choose from, when opening up an online shop. Woo-commerce , Shopify are just a few examples .