Wayfair shares have fallen down by 26 percent, while the stock has witnessed the loss of 22 percent this year, reported by Bloomberg. Even Amazon has asked its employees to avoid unwanted traveling even in domestic areas. It is not just a serious health problem but there is a worse impact of Coronavirus on eCommerce market.
Big retailers like Nike, Apple, Starbucks have closed their stores temporarily. Check out the impact of coronavirus on eCommerce market by having a look at statistics by Market Watch. Above all of these crises, there are some companies that have made their ways through the market and keep doing business via eCommerce platforms like Magento.
People are preferring to shop online instead of offline shopping
In current days, the online purchase becomes more easy and safe as people don’t want to go outside and get themselves infected with the coronavirus. Online stores like Jd.com have reported 215% of growth in grocery. Vegetable online deliveries have increased by 600% from January to early February.
Intensified shipping services
Obviously, there will be a hike in delivering services with an increase in the online ordering system. Companies are increasingly delivering resources which results in less human to human interaction and packaging orders which makes it free from contamination.
Medical supplies have been raised
When the novel coronavirus was declared, surge for medical supplies has increased like masks, sanitizer, medical goggles, scrubs and other items that protect the one from affecting. 80 million masks were sold by only one digital retailer named Taobao in 24 hours on January 20-21. Many companies ran out of medical products in January-February 2020.
Not only China but other countries like the USA, India, Germany, South Korea, Thailand, Italy, Iran’s demand has also increased as Amazon has surpassed their medical selling in past months.
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Covid-19 and major impact of coronavirus on eCommerce will soon pass away and market demands will keep on changing. But the fact won’t change that online purchasing and selling has increased and will keep taking new shapes as time passes.
Retailers and merchants need to remain active and think about getting their business on the Internet by developing digital stores on the world-famous eCommerce platform Magento. Hire dedicated Magento developer from AdornCommerce now and stand out in the competition. Contact us for more details at email@example.com.