The year 2020 has been etched forever in the history of world disasters, and will be known to have witnessed enormous changes that the entire world went through. The pandemic impacted various industries, thus slowing down economic activity.
Amid all that, when most of the industries are already facing the challenges pertaining to survival, the eCommerce industry is experiencing a surge owing to the acceleration in digitalization and its worldwide acceptance.
The lockdowns unlocked tremendous opportunities for eCommerce businesses, and in fact led to the digital transformation even of areas that were far from modernization. Various businesses switched to digital platform for selling products and services, and so did consumers. In global retail trade, the share of eCommerce has seen growth from 14% to 17%, from 2019 to 2020.
The advent and worldwide switchover from offline to online shopping, even by the most conservative of shoppers has led to the boom in eCommerce industry.
Let’s take a dive into various aspects of eCommerce industry that are making waves.
The pandemic has certainly boosted the eCommerce industry but alongside have come various challenges too, owing to the surges in product demand, orders, disturbances in supplies, changing customer behavior, and lot more. The impact is magnanimous!