COVID-19 Impact on Consumer Behavioral Changes For Online Shopping

Online Shopping Experience A Significant Impact In 2020 Influenced by COVID-19 Pandemic
By: UnivDatos Market Insights (UMI)
BERLIN - May 25, 2020 - PRLog -- Since the start of the global pandemic Covid-19, the countries have started to enter into a complete lockdown situation, which mean limiting the public outing, public gathering and so on. Due to this very measure taken by the governments around the world we have seen a major shift in the shopping behavior of the consumers, as the shopping mall get closed and people have very limited access or even no access to shops. And due to this very fact the Ecommerce shopping is gaining growth in the sales numbers day by day. People are shifting from bulk buying behavior to online shopping, they are even changing what they're buying, when they buy, and how they buy. The COVID-19 pandemic has accelerated the significance of online channels. Today, consumers consider online as their primary shopping channel and this will persist in the immediate future. In that digital-first environment, operational agility, flexibility and consumer engagement assume huge significance. According to Capgemini Research Institute, Consumer Behavior Survey, 59% of consumers worldwide said they had high levels of interaction with physical stores before COVID-19, but today less than a quarter i.e. only 24% see themselves in that high-interaction category. Amazon's website hit 2.54 billion visitors for the entire month of March 2020, representing a 65% jump compared to the same period in 2019. Walmart Grocery app witnessed a record download representing 460% growth in average daily downloads amid COVID-19, which is 20% more than Amazon.

As news of COVID-19 spread and as it was officially declared a pandemic by the World Health Organization, people responded by stocking up the items of their needs. Consumers rushed to buy medical supplies like hand sanitizer and masks and household essentials like toilet paper and bread. Soon, both physical and online stores were struggling to keep up with demand, and price gouging for supplies became rampant. According to a survey done in survey of U.S. and U.K. consumers found that 96% of Millennial's and Gen Zs are concerned about the pandemic and its effects on the economy. This concern is leading them to make change their behavior more dramatically than other generations, which includes cutting back on spending, stocking up on items, and spending less on experiences. During the coronavirus pandemic, online grocery shopping is picking up a lot of converts—at least for now. The change in shopping patterns has caused retailers to adapt quickly and could create long-term challenges as the giant retail sector accelerates its transition to e-commerce and Omnichannel fulfillment.

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UnivDatos Market Insights (UMI)
Source:UnivDatos Market Insights (UMI)
Tags:Covid 19 Impact
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