Covid-19 to accelerate the expansion of E-commerce

Mar, 2021 - By WMR

Due to the COVID-19 pandemic, B2B and B2C online sales of physical goods have increased demand for such products and many companies and customers initially reacted by stocking up.

Medical supplies such as disinfectants, hand sanitizers, and surgical facemasks, as well as daily necessities like toilet paper and non-perishable foodstuffs, were stocked. Many governments have implemented social barriers, imposed lockdowns, in various states. As a result, there has been a rise in online sales of some items, as well as increase in demand for a wide variety of digital services, as many customers have switched to online shopping – whether by computer or mobile phone. As a result, a number of companies have transferred their capital to E-commerce. The rising popularity of digital services has encouraged both service providers and telecommunication companies to extend their network capacity and provide low-cost data and service packages. Owing to the interconnection between commercial activities and supply chains, the relative shift to online B2B and B2C sales through retail and wholesale distribution services is dependent on manufacturing activity and service availability. Government-imposed restrictions on the spread of the virus. The same factors that have disrupted supply and demand in general have had a negative effect on ecommerce for goods and services trade. As a result of the disruptions, orders have been postponed or cancelled completely.

Several other e-commerce-related problems have emerged or been intensified as a consequence of the pandemic. Price gouging (increasing costs unreasonably), product safety issues, misleading practices, cyber security concerns, the need for increased bandwidth, and growth concerns are among them. Governments have taken new steps, and the private sector has joined in, to respond to the virus's problems and ensure that ecommerce can help mitigate some of them. - network availability, delivering enhanced data services at low to no cost, lowering or eliminating transaction costs for digital payments and mobile money transfers, and improving delivery systems.