Global COVID-19 impact on the Ecommerce Market, Share, Growth, Analysis Forecast to 2030
The situation is rapidly changing. The amount of people deemed safe to gather in a single place has dwindled from thousands, to hundreds, to ten. Restaurants, bars, movie theaters, and gyms in many major cities are shutting down. Meanwhile many office workers are facing new challenges of working remotely full time.
As news of COVID-19 spread and as it was officially declared a pandemic by the World Health Organization, people responded by stocking up. They bought out medical supplies like hand sanitizer and masks and household essentials like toilet paper and bread. Soon, both brick-and-mortar and online stores were struggling to keep up with demand, and price gouging for supplies became rampant.
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The world is facing a crisis that is predicted to grow bigger in the coming months. India as a country has taken a brave, powerful decision to be in complete lockdown for 3 weeks. With the majority of businesses in a lurch, there is no surprise that the e-commerce sector is facing tough challenges during this period.
Online payments increase in the COVID-19 crisis
The worldwide spread of the coronavirus has led to a movement to digital alternatives to cash in stores as well as for payment of orders initiated online. Some consumers avoid cash as a COVID-19 vector, others simply move to plastic or digital payments as a consequence of ordering online. However, the report suggests that even though the number of online payment transactions has spiked, the total value of online payments will likely be lower for the current fiscal year as fewer big ticket items and less travel arrangements are purchased by consumers.
The overall e-commerce logistics market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the e-commerce logistics.
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