Many may agree that without the availability of online shopping, we might see a higher number of victims of the pandemic. Let us explore why online shopping is even more essential today and examine the potentials of the online platform
As the COVID 19 virus continuously spread throughout nations, many people are mandated and confined at their homes. They are leaving only essential services open such as restaurants, food delivery, groceries, and pharmacies.
Thanks to the internet, online shopping is now much needed. With a slightly higher price, you can get food and medical supplies with just a few clicks on your screen.
As far as the pandemic is concerned, items related to health and house cleaning are selling like hotcakes. The most in-demand products for sale online are face masks, hand sanitizers, bleach, gloves, vitamins, hand soap, and toilet paper. Other effects of the pandemic have reached oil where the price has dropped in the negative. With the high demand, we see a hike in prices in the said items due to the limited stocks available. Now, the impending question is, for how long the supplies last? These resources are not forever.
The Popular Online Shops
Sites like Etsy Inc.’s reliance on supply and demand from China is minimal, so it hasn’t seen much of a negative impact from the virus. Right now, many businesses are closely watching to see how the pandemic will affect customers and their respective businesses. Moreover, what will happen while the supply chain down the line is very limited for the most part?
Amazon, on the other hand, had always enjoyed a short burst of profits, and is now experiencing a strain on its supply chain. As an effect, the service is experiencing shipment delays, and the price of some of its products have also significantly dropped. In addition, the affiliate marketers of Amazon have also received a blowout as it cuts its commissions.
On the merchant side of things, what are ways to protect your business to ensure that online shopping remains a trust-worthy alternative?
- Be Honest and Don’t Make Light of the Situation.
Never use keywords related to the pandemic as a promo code; otherwise, this can have a negative impact on your business in the long term. It’s in bad taste and will remain as a monument of how your business made money during the pandemic.
- Don’t Put All Your Eggs in One Basket
This is an old proverb that still rings true today even. We mentioned earlier about the problems with the supply chain. China, being the sweatshop of the world, has been affected in a negative way. Their economy is down by almost seven percent because of this pandemic, and naturally, everyone else who relies on them heavily will also be affected in a similar manner. So to address this problem, it would be wise to diversify your supply chain.
- Electronic Products Are the Focus
Since tangible products are hard to get by, offering digital products can soften the negative impact of the pandemic. If your business can find a way to do this, it’s always a good idea to jump in.
- Socialize with Consumers
Now that everyone is at home, this is the best time to market goods and services, so as a business, connecting with customers at any of the numerous social media websites is a great way to stay in touch.
Perhaps build customer trust by also addressing any issues they have been reporting that has not been addressed before.
What Can Customers Do to Make the Most of Online Shopping?
- Look for E-Commerce Websites or sellers with Diversified Supply Chain
If you are shopping online, picking a seller with a diversified supply chain lessens the chance of buying items that are out of stock.
- Look for Sellers with Honest Reviews
There are many businesses now looking to commit price gouging, the various lockdowns and quarantines have forced many businesses to close temporarily, creating a bit of mini-monopoly situation. So, to avoid overpaying, always purchase from reputable vendors.
- Interact with Sellers and Other Buyers
Social media platforms afforded us the ability to directly communicate with businesses, and so we should take this opportunity to inquire and look for third-party opinions about a certain product or business.
- If You Can Buy It Digital, Do It
Essential items are the priority right now to sell, but there are still ways to get items that are not essential. Things like books, music, movies, and other digital content can be obtained in an electronic format. Not only is it faster, but your chances of getting the COVID-19 virus is virtually zero. Another benefit is buying items at a lower price. In video games, for instance, you can purchase games at a lower price as opposed to its tangible counterpart. Of course, this depends on where you buy from.
Lauren Castillo is the head writer of MediaVenture.org. A website that covers travel tips, personal finance guides and tech news.
