According to a poll, COVID-19 has forever changed online shopping.
The pandemic has hastened the transition to a more digital environment and prompted shifts in online shopping habits that are likely to have long-term consequences.
According to a study of 3,700 customers in nine developing and developed economies, the COVID-19 pandemic has permanently altered online shopping habits.
The survey, titled "COVID-19 and E-commerce," looked at how the pandemic has affected how people shop online and use digital solutions. Brazil, China, Germany, Italy, Republic of Korea, Russian Federation, South Africa, Switzerland, and Turkey were among the countries covered.
Following the pandemic, more than half of those polled said they now shop online more often and rely on the internet for news, health information, and digital entertainment.
According to the report, consumers in developing economies have made the biggest transition to online shopping.
“The COVID-19 pandemic has hastened the transition to a digital world. As the global economy starts to recover, the reforms we make now will have long-term consequences,” said UNCTAD Secretary-General Mukhisa Kituyi.
As the world shifts from pandemic response to recovery, he said, the global growth of online shopping highlights the importance of ensuring that all countries can take advantage of the opportunities provided by digitalization.
Consumer spending falls as online sales increase.
According to a UNCTAD and Netcomm Suisse eCommerce Association survey conducted in partnership with the Brazilian Network Information Center (NIC.br) and Inveon, online sales have risen by 6 to 10% in most product categories.
ICT/electronics, gardening/do-it-yourself, pharmaceuticals, schooling, furniture/household goods, and cosmetics/personal care are the most profitable groups.
During the pandemic, online consumption patterns in Brazil changed dramatically, with a higher proportion of internet users purchasing important items like food and drinks, cosmetics, and medicines,” said Alexandre Barbosa, manager of the Brazilian Network Information Center's Regional Center of Studies on the Development of the Information Society (Cetic.br) (NIC.br).
Increases in online shopping varied by country during COVID-19, with the highest increases in China and Turkey and the lowest in Switzerland and Germany, where more people were already doing so.
According to the study, women and those with a tertiary education made more online purchases than others. When compared to younger people, those aged 25 to 44 showed a greater rise. In Brazil, the increase was greatest among the most vulnerable people, especially women.
Small merchants in China were also the best prepared to sell their goods online, while those in South Africa were the worst prepared, according to survey responses.
“Companies that prioritize e-commerce in their market strategies are better positioned for the post-COVID-19 era,” said Yomi Kastro, founder and CEO of Inveon. “There is a massive.
Fast-moving consumer products and pharmaceuticals, for example, are sectors that are still more used to physical shopping.”
“The unprecedented growth of e-commerce in the post-COVID-19 environment will challenge national and international retail frameworks,” said Carlo Terreni, President of the NetComm Suisse eCommerce Association.
“As a result, policymakers should take proactive steps to encourage small and medium-sized businesses to embrace e-commerce, develop specialized talent pools, and draw foreign e-commerce investors.”
The digital behemoths are becoming more powerful.
According to the survey, the most common communication networks are Facebook's WhatsApp, Instagram, and Facebook Messenger.
Zoom and Microsoft Teams, on the other hand, have benefited the most from the increased usage of video calling apps in the workplace.
According to the survey, WeChat, DingTalk, and Tencent Conference are the most common communication channels in China.
Change is unavoidable.
According to the findings of the study, improvements in online behavior are likely to outlast the COVID-19 pandemic.
The majority of respondents, especially those from China and Turkey, said they will continue to shop online and concentrate on essential items in the future.
They'd also fly more locally, implying a long-term impact on international tourism.