The Covid-19 pandemic is testing everyone, from governments to businesses, to their limits, and yes, this includes e-Commerce. Significant loss of life, implementation of new health protocols, restrictions on geographic borders, and transportation and trade upheavals have resulted in a global economic downturn.
Despite the visible economic recovery due to the vaccinations, the global Gross Domestic Product (GDP) suffered a cumulative loss of around 9 trillion dollars. This sent emerging markets and developing economies into recession—the first time since the Great Depression.
However, new opportunities are also emerging as businesses are challenged in their ingenuity, tenacity and agility.
First, the pandemic has pushed traditional businesses to embrace the digital revolution through eCommerce. More on that below as we look at the main lessons to learn from this challenging year.
Every business needs to learn e-Commerce
As businesses join e-Commerce, the demand for digital marketing experts soars.
Unless you are prepared to invest a lot of money into hiring an e-Commerce professional, you will need to know the ins and outs of an e-commerce business yourself first.
Knowing what’s working behind the scenes Chief VP Sales Marketing Officers Email List allows you to identify patterns, uncover errors as well as opportunities, so you can easily adapt and embrace any change.
Another important lesson to learn is to take e-commerce seriously. This is not an easy task, especially when it comes to B2B ecommerce. You need to analyze your business needs (not wants, at least at the start).
Good thing you can take advantage of technology to help you get started.
For example, you can use Split Dragon to analyze the most searched product. keywords in your niche so you. Can optimize your product listings and get more sales.
Once your budget allows, hire a consultant or ecommerce specialist.
Crises are needed to magnify new problems
e-Commerce was foreseen as a major economic contributor even before the pandemic.
However, when the pandemic hit, it amplified the pre-existing bottlenecks in the e-Commerce ecosystem and new problems emerged.
Take the example of the supply chain in Southeast Asia. Top ecommerce players like Lazada and Shopee are confident that their supply chain lines are uninterrupted and can be on par with Amazon.
However, the impact of the COVID-19 CW Leads pandemic is seeping into transportation networks, shortening the workforce and additional protocols.