The Impact of Pandemic to eCommerce Business.

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Introduction

Tammy : Finally, we have nice weather today, very good weather to start my monday routines, and people here are slowly getting back to their normal lives. What about there, Ray?

Ray : Hi, Tammy! It’s good weather as well here, everything is normal and people are doing their normal business.

Tammy :  That’s great to hear that! You know that this pandemic has cost everyone a lot of stress, especially those who own a restaurant, real estate, schools and a lot more. I hope everyone is getting back on their feet.

Ray : I agree with you Tammy, with what is happening right now, the global economy is drastically down, but I see changes, it improves everyday and I hope it will go up soon.

Tammy : Yes Ray, for sure it will go up, but as I’ve seen news and read some articles. Some countries have gone back to normal, well, once your country has gone back to normal, it also improves their economy. Here in the Philippines, we are in stage 4 right now, where malls are already open but skeletal work, meaning, not all employees should report to work, and if you’re planning to eat in the restaurant, it should be one person one table. If you are working in a corporate office, you can stay at home and work, because public transportation is still not now allowed. 

Ray : Really? 

Tammy : Yes Ray, that’s what we called the  “new normal”. All schools are closed unless there’s already vaccines invented. So all classes are online. More sales for the electronics shops, for sure with this new normal, a lot of people will be investing in computers and gadgets. Well, they should be! Because everything is now online. 

Ray : For sure, everyone should invest in getting a computer if they don’t have one. Because the impact of this pandemic to our economy is very big.

Tammy : That’s correct Ray, I’ve been monitoring the US dollar these days, and it fluctuates. Even if the Global economy has changed a lot this year, good thing that the eCommerce business is getting high and still stable, well of course, if the products that they are selling comes from a country with limited resources or has stopped operations, it might get a delay to deliver it from the customers, some might have to stop operations due to stop productions of their products. It’s actually scary these days as it is very unpredictable.

Ray : A lot of brick and mortar stores have closed down due to this current situation and converted to eCommerce, well depending on which type of e-commerce, some just really closed down, that’s sad for a businessman who tried to build their eCommerce business for so many years, like the airbnb, they build their business for 12years, and given this situation, after 3 months, they are closing down according to the article that I’ve read. So it actually depends on what eCommerce business they do.

Tammy : I’ve read that too in one article, and I feel so down. But we always need to look at the positive side. Ecommerce business might not be back to normal soon, but there are a lot of people right now who are starting to build their own eCommerce business, especially that people are scared to go out and buy stuff.

Ray : Well, Let’s talk about the eCommerce business this 2020, since a lot of changes lately, do you think there’s an impact?

Tammy : Yes, of course, it’s the half of the year already, in the first quarter of this year, 20-30% of people spend time on the internet, and this 2nd quarter of this year, it got higher to 51% more people that spend more time on the computer. The shift to the digital platform is just around the corner. So I suggest that entrepreneurs should take advantage of this, because e-commerce activities would possibly account for half of the world’s economy. There are tips on how to convert your retail business to Online business or how to transform your business to eCommerce Business. 

Ray : Great. That’s true. 

Tammy : Actually, 2020 is here to further transform the world of ecommerce.

As it has revolutionized retail. It has evolved to meet the changing needs of people, and to make online shopping easier for the modern day customer. Whether it’s return policies, or improved integration, all of these changes have taken the world of ecommerce rapidly. So, if you’re still thinking about the future, don’t worry about that, it will never go away, it’s here to stay. And you too can include these ecommerce developments into your business to ensure steady growth of your online store. Even if you already have a retail shop, it’s also a good idea to open your online store. 

Ray : I notice that the eCommerce trends are so important, and the ecommerce world is becoming increasingly competitive. 

Tammy : Yes Ray, To stay ahead of the competition, ecommerce trends need to be constantly monitored. No matter how mature your ecommerce store is right now, if you don’t keep up with ecommerce trends, you’ll risk falling behind. You need to keep looking ahead to ensure future success. As we move into 2020, you need to know these trends in order to take advantage of them. That’s why it’s so important that ecommerce trends are analyzed and adopted in a timely manner. By doing this you can drive your ecommerce brand forward, and stay ahead of your competition. You can also do research about these trends like : 1. Online sales growth is unstoppable. 2. Mobile shopping is growing. 3. Evolving role of Social media in eCommerce. 

Ray : Thanks for sharing that, Tammy. With the improvement in technology and changes in consumer behavior, you really need to keep watch out for these ecommerce trends. Whichever ecommerce trend you decide to adopt, do it with the aim of improving the shopping experience for your customers, and building a long-lasting relationship with them. Take your ecommerce evolution to the next level, by evolving with it side-by-side, and taking advantage of these ecommerce trends.

Tammy : To our listeners, you may check our previous podcasts regarding eCommerce business to give you an idea how to start your own. It might not be easy for everyone, but it won’t cost you so much compared to a retail store. There are times that you might feel bad with your business, but always always look on the bright side. If you need any consultations, you can always email us at info@uniprohk.com or you may visit our website at www.uniprohk.com to learn more about this ecommerce business start up. 

Ray : Thanks Tammy, I hope everything will be fine with you.

Tammy : Thanks Ray, Have a nice day!

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