Record E-Commerce Growth In Countries With Enormous Budget Deficits
May 28, 2021
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Businesses that managed to stay afloat during the pandemic did so by knowing that convenience was going to be key. As the whole planet was getting locked into their homes, traditional brick-and-mortar businesses had to reinvent themselves quickly to remain in the game.
We’ve also seen multiple online shops pop up under the saving beacon of statistics proving consumers are using online shopping to cope with their new situation. Considering a lot of people reported losing their jobs or having to take pay cuts, it comes as no surprise that sites offering vouchers and promo codes like Promocodius have registered record numbers of visits. This one, in particular, saw a 13% increase in visitors compared to the precedent period.
E-Commerce Soars Despite Economic Turmoil
It is no surprise that the new global situation meant lost jobs, thinning savings, and decreased revenues for countless families. Living on shaky economic grounds should mean reluctance in purchasing goods and services, but it seems like consumers decided against temperance, and in favor of hoarding their necessities, afraid that the prices will soar in the future.
Where governments failed to provide security, consumers did their best to find the best deals and buy discounted goods. This thing becomes apparent when looking at smaller players of the European Union.
Same Day Delivery Services Used to Honor Orders
With most physical stores closed or functioning at reduced capacity, online orders soared to new heights in a short amount of time. According to data from technology giant Convey Inc, package volume tied to online commerce increased almost 60% in April 2020, compared to previous months.
In order for merchants to respond to the increased demand and same-day delivery expectancies, a lot of businesses turned to platforms like DoorDash, Instant Cart, and Uber Technologies, and the transitions were made speedily, in the span of a couple of months.
These services offer not only the opportunity to have goods shipped very fast, but also showcase the partners’ products on their own platforms, increasing visibility. For example, Instacart users will be able to browse products from companies like Best Buy and have them delivered to their doorstep in 24 hours; this would have not been possible without the panic-induced partnerships that the pandemic brought us.
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