Coronavirus Pandemic- How E-commerce Industry will get out of it?April 11, 2020 | Author: Ashley Brown
The Coronavirus outbreak has impacted 80% of the world population mostly the countries of Asia, Europe, and the America. As global economy is going down and cities lock themselves down, only technology particularly E-commerce can address such situation. Experts believe that technologies can help human to break the chain of coronavirus impact.
The epidemic originated in Wuhan and later spread across the globe and countries are facing severe challenges as people are dying. This is because of human-to-human transmission of the virus known as COVID-19. With lockdown and people are staying in isolation, E-commerce is the medium through services can be reached. The working of E-commerce largely depends on the supply chain. Seeing the impact of coronavirus outbreak, many physical stores have moved to online selling because people are avoiding visiting physical stores. Brands are investing in Magento 2 development for selling online and looking for the best medium to serve customers.
In this blog, we’ll discuss how coronavirus is impacting online industry and how Magento CMS can help them to get out of this problem. But before that let’s discuss some major details related to coronavirus for better understanding.
What is the impact of COVID-19 on E-commerce Sales?
With coronavirus outbreak a situation of panic is everywhere. Both the public and private sectors are slowing down with spread of the virus. However, its impact has already canceled thousands of events, trade meetings, hotels, restaurants, shopping complexes and bars are closed, conferences are remotely held, work from home is allocated, etc. All industries are rapidly changing. This is the perfect opportunity for a brand to build an online selling platform with the guidance of Magento 2 developers to boost sales and remain ahead of the competitors in the market.
How Retailers will survive when COVID-19 cases are increasing?
Seeing the situation across the world, online selling is the best technique for the retailers to survive and serve their customers. As the lockdown is in progress and people can’t get out of their houses, providing services through E-commerce platform seems promising. But things can become complicated if proper guidance is not availed from the industry experts in the similar field.
According to reports, online sales in last few weeks have increased by 50% and conversion rate by 10%. People want to avoid public spaces to avoid any risks of getting infected with COVID-19. It motivates them to buy online and this resulted into online retailers making investment in Magento 2 E-commerce development services from reputed Development Company.
Why Investing in Magento 2 Development is a Game Changer?
Now, let’s find out how Magento 2 E-commerce is beneficial during coronavirus. It doesn’t seem that the community will release any security patch or update during the pandemic. However, for retailers it is the perfect time to pay attention to Magento 2 and its innovative shopping features. The e-commerce platform offers a streamlined way to go online for the retail store owners. Consider the following reasons to leverage this powerful CMS for your store backing:
• If you are not operating during the pandemic, invest this time to create a Magento 2 website and use the right opportunity to increase sales, drive ROI and engage more customers.
• If you have a business idea, convert it into reality, since you have plenty of free time. The dropshipping technique is good for startups and for its integration hires Magento 2 developer from a reputed agency. Of course, it saves lot of operational costs as no warehouse is needed for inventory storage.
• If you already operating a retail business that is not serving online, it is time to build a digital storefront for the same. If you have online store, but it is not engaging and powerful, it’s time to move to an engaging storefront.
• If you run a business without an E-commerce storefront, quickly invest in Magento 2 Commerce and avail its B2B features. The platform offers a set of tools and with the availability of Magento support it eases your interactions with other business partners.
• If you own a store and looking for Magento 2 Migration Service it is the right time to make the decision for future benefits.
With so many features of this remarkable CMS, investing in it during the COVID-19 growing cases will not impact your business online sales and user engagement.
Frequently Asked Questions
What is Magento used for?
Magento is an ecommerce platform built on open source technology which provides online merchants with a flexible shopping cart system, as well as control over the look, content and functionality of their online store. Magento offers powerful marketing, search engine optimization, and catalog-management tools.
Why should I upgrade to Magento 2?
Magento 2’s improved performance and new features provide your customers with a faster, easier shopping experience. Magento 1 will continue to be officially supported with security issues patched until June 2020, although no new features will be added.
How do I contact Magento 2 Support?
Magneto has a huge community of researchers, developers, testers and they are always available during the need of Magento 2 Support when stuck with any update, upgrade or migration issue.
The impact of coronavirus on the global market is huge. It already caused serious threats with people are dying and it doesn’t seem that it will disappear within the next few months. Rather than cases are lowering the reports of its regular spread are coming. However, it is not a reason to be panic. Keep calm, and stay at home to avoid getting into public places. Order products through online selling portals as online shopping is the best option. Many brands have hire Magento 2 developer to build E-commerce stores as a result of the closing down of retail shops. While doctors and medical specialists believe it will get slow down during the summer season.