Qualities That Are Must in Your Print-On-Demand Dropshipping Partner
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In the beginning, people considered COVID-19 as a passing problem and it would vanish soon. However, this myth got busted with the rise in infection cases and death rates. It is safe to say that the deadly virus has disrupted the entire world, forcing e-commerce giants, like Amazon, to change their business model. Amidst the COVID-19 pandemic, conventional and budding print-on-demand service providers look for ways to cope with the disastrous impact of COVID-19 on the economy. As quarantine has become the new normal, there has been a shift in the buying behavior for custom printed products. So, the question is how e-commerce store owners adapt to this shift in consumer and e-commerce trends.
With everyone's eye fixed on COVID-19 data, e-commerce store owners anticipate a shift in consumer buying behavior. Firms are looking for ways to deal with this shift from the supply chain to e-commerce adoption or expansion. To stay ahead of competitors and make winning decisions, firms have to evaluate these changes critically.
What the future holds amidst the COVID-19 pandemic?
Before COVID-19 struck, the e-commerce sector was already gearing up for innovative digital trends. From artificial intelligence to growth in online sales and mobile shopping, all these trends were already there; COVID-19 just accelerated the digital shift.
According to experts, the good news is the short term boost in e-commerce due to COVID-19. The reason being is that people feel more comfortable buying goods without the need to step outside their homes. Contactless payments are in, which will cause a permanent behavioral shift towards digital purchases. With a timely response to the shift in consumer behavior, the e-commerce sector will become the biggest beneficiaries of the COVID-19 pandemic.
Going by the data, the penetration rate, which is at 15%, will increase to 25% by 2025. This means there will be a 67% increase in five years. However, it's essential to look at the other side of the coin as well. The spike in online demand will result in the loss of brick and mortar purchases.
Customer’s response to COVID-9 and e-commerce trends to look out for!
According to a recent study, with 52% of consumers implementing social distancing, people are shifting to online shopping. What e-commerce store owners should understand is that it's not only the increase in online purchases, but also the nature of the demand. Due to COVID-19, people are purchasing in categories that were not expected to see a rise in demand. With the rise in online shopping, consumer behavior during COVID-19 will be about user behavior. Without any further delay, let's talk about the latest consumer and e-commerce trends post-COVID-19.
Digital shift: We have all heard the term digital transformation but after this pandemic, we will understand its actual meaning and importance. Firms who have invested in digital platforms will experience a huge ROI as more and more consumers are shifting to digital channels for purchasing products, like custom kid’s clothing. Companies who underwent digital transformation have a higher chance of enticing customers during the pandemic. It's more important than ever to invest in chatbots, voice assistants, smart devices and social media. Firms must offer a strong digital experience to consumers to weather the storm and overcome the economic downturn.
Rise in mobile shopping: During the COVID-19 pandemic, mobile shopping has gained strong acceptance among consumers. The growth of M-commerce during the lockdown is noteworthy. According to experts, mobile-commerce will increase by 73% by the end of 2021. As an e-commerce store owner, ignoring these figures means digging your own grave. By improving the mobile shopping experience, firms will create loyal customers with little or no tendency to switch. Over the past years, the increase in e-commerce has been mainly due to mobile devices. With the increase in trust for online shopping platforms, consumers now prefer to shop on their mobile devices. When it comes to millennials and Gen Z, shopping on mobile devices has become a new trend.
Change in men's and women's shopping behaviour: One interesting thing to note during this pandemic is the change in shopping behavior on the basis of gender. Survey data reveals that women are more concerned about the madness going in the world than men. 25% of women admitted that the pandemic has affected their shopping behavior in comparison to one-third of men. Also, men prefer to buy products online compared to women who avoid the hassle of in-store shopping.
Environmentally-friendly products: This pandemic has forced people to purchase eco-friendly products. According to a recent study, 50% of digital consumers revealed that environmental concerns influence their shopping decisions. After COVID-19, green consumerism is on the rise. This means e-commerce owners should create sustainable and eco-friendly products. Online store owners should step up their game and follow environmentally-friendly practices, from sourcing products to offering safe and virus-free products to consumers. Consumers are taking the onus for creating a safer planet and thus, in turn, it means firms have to cater to the eco-friendly needs of customers.
Personalization is the future: According to e-commerce experts, 74% of marketers are of the view that personalization has a strong impact on customer relationships. The key to loyal and satisfied customers is to personalize their shopping experience. If customers wish to buy custom kids t-shirts online, customize the package for customers to bring that wide smile on their face. Offer proper product recommendations and personalize the messages you send to customers via email or chat groups. Personalized communications, discounts and customer engagement will deliver a better shopping experience.
In a nutshell, we can't say how physical shopping will look in the future but we do know about e-commerce. Online shopping will play an important role even after the COVID-19 leaves the globe. This means firms must develop a well-designed e-commerce architecture to meet the demands of today.
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