It is no secret that COVID-19 immensely disrupted life as we knew it. Over the past few months, consumer behaviour has changed significantly. Whilst we are still awaiting to see the full extent that COVID-19 has had on Australian businesses, the impact thus far has been unprecedented.
Despite the apparent challenges COVID-19 has had on supply and demand, some businesses are capitalising in this new environment. A study from the Power Retail Advisory Board indicates that 20% of Australian businesses have seen over a 20% increase in sales. Overseas trends also indicate a rise in eCommerce transactions, with Italy recording an 81% increase since the end of February. These trends highlight the pivotal role eCommerce has, particularly within retail industries.
In this blog post, we have provided two suggestions on how you can capitalise on the positive effects of COVID-19 has on the digital business landscape.
How should your business capitalise on COVID-19?
Improve Your eCommerce Presence
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Now is the ideal time to invest in a contemporary eCommerce software for your business. Physical restrictions have led to a steep increase in online demand, and many businesses that previously did not have a strong eCommerce have struggled to meet this demand. Therefore, implementing a strong eCommerce software with more variety and payment options such as click and collect, or buy-now, pay-later will satisfy consumers, and the profits of your business.
Improve Engagement with Your Customers
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Connecting, engaging and inspiring consumers during such an uncertain time requires businesses to think outside of the box. Businesses capitalising on COVID-19, to boost their eCommerce services, have adjusted their marketing, to ensure they have a much stronger digital presence. The absence of physical interactions has also led consumers to seek alternative online shopping experiences that replicate reality. More businesses are now adopting alternative eCommerce experiences, including artificial and virtual reality.
For several years, brick and mortar stores have seen a gradual decline, and the pandemic has only further accelerated this decline. Whilst COVID-19 has posed many challenges for businesses, it is clear it has led to an immense boom in the eCommerce industry. This significant spike in eCommerce growth was last seen after the Global Financial Crisis, which resulted in a four year eCommerce boom. It is therefore evident that as consumer confidence begins to return, businesses with omni-channel experiences will experience the highest growth, particularly as eCommerce will evolve more in post-pandemic life.
If you are seeking to improve your business’ eCommerce presence, A&H Digital Solutions is here to help you. Book a no obligation consultation with us today!
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