Just as expected, the COVID-19 effect on e-commerce was huge but will this growth continue after the virus? The normalization process is underway in a number of countries and what do the data say about the state of e-commerce after COVID-19? In this article, we will be looking to answer these questions with the most reliable answers.
COVID-19 forced almost every company to go online with the lockdown. In the first two months, sales skyrocketed and companies that acted fast were able to benefit from it. Fitness equipment, entertainment products people can use in lockdown, and medical & protective products were top on the list. Even though the normalization process has been commenced, these products are still in great demand. But it is expected for the lockdown to end in August, then what will be the state of e-commerce?
Big e-commerce companies like Amazon and Alibaba have employed thousands of people to cope with increasing demand. They plan to increase the number of employees even more. These companies will likely keep the market share they have acquired during lockdown since a lot of companies failed to adapt to the virus and lost their customers. But this doesn’t mean COVID-19 will only help big to get bigger. In 2003, the SARS epidemic in China helped Alibaba to become one of the biggest companies in e-commerce, thanks to its former CEO Jack Ma. The very same is possible for other companies.
Trust is the Key for E-commerce Success
Just as we mentioned in our previous blog posts, e-commerce needs to gain people’s trust to thrive in some regions like MENA and COVID-19 provided a perfect chance. Rather than price, trust is the leading factor in e-commerce. Companies that took the leap and succeeded will end up keeping some of their customers when pandemic ends. Besides, more and more people will be buying online after COVID-19 ends, resulting in increased market volume and new opportunities.
E-commerce After COVID-19 in Turkey
Turkey is among the countries that handled the pandemic rather successfully. With the lockdown, e-commerce in Turkey rose to $20 billion with an increase of 48% compared to the last year. Just like in MENA, the effects of COVID-19 in Turkey will help e-commerce businesses to grow after pandemic ends. E-commerce companies that successfully adapted to the pandemic conditions will benefit more.
What Should Companies Focus on After COVID-19?
During the lockdown, trusted companies tried to get their customers’ attention with flash sales and various promotions. Such strategies worked well for a short time but after COVID-19, what should companies do since they cannot keep using the same strategy? According to various sources, companies with better supply chain and fulfillment will thrive among others. This means faster delivery time and better technological infrastructure. All these improvements will persuade new customers to keep using e-commerce even after physical shops reopen. While handling these, it is crucial to not lose your customers’ trust since it will be the driving factor even in the post-pandemic period. Knowing this, Amazon has been working harder to keep misleading products (fake cures/medicines for Coronavirus, etc.) off from the website since the beginning of the pandemic.
Another key point that e-commerce companies should take into consideration is brand value. As we have mentioned earlier, fitness equipment sales have been increased greatly but this will not continue after lockdown ends altogether. Companies that didn’t sell their fitness equipment should not disturb their new customers by sending five emails a day informing them about a reduced price of fitness equipment they don’t even need. Instead, they should come up with various promotions like selling them in bundles with protein powder, so that company value will not decrease every time a type of product fails to meet the expectation. Aside from coming up with promotional ideas, do not forget to promote popular and new products so that you can reach new customers.
Importance of E-commerce Translation and Localization
As mentioned before, creating a reliable image helps e-commerce businesses bond well with their customers. In order to gain the trust of customers, they have to adapt well to the foreign market as well. Businesses have to work with well-known translation agencies to localize and translate their content to ensure reliability. Protranslate, with its team of experts, can help you with e-commerce translation to reach people from all around the world. We are one click away from adapting your business to post-pandemic standards!