Are you thinking of expanding your eCommerce business during this Coronavirus pandemic? Understand that you need proper planning and the right execution, especially during the Q4 of 2020. There is no doubt that the Coronavirus pandemic is here to stay, and you need to start adapting your business.
eCommerce Trends in Q4 2020
To understand how Coronavirus will impact eCommerce in Q4 2020, you need to look at the emerging trends. Below is a quick look at some of the trends that are expected to last way beyond 2020.
1. Increase in Demand for Second-Hand Items
Experts are referring to the high rise of second-hand markets as ‘re-commerce.’ There has been a significant demand for used products in the online market. According to thredUP, the second-hand market will explode in the next years to come.
2. Expanding Fulfillment Options
Before the Coronavirus pandemic, customers used to complain about lengthy shipping periods, shipping costs, and a lack of different delivery options. Soon after Covid-19 hit, eCommerce companies started looking to expand their fulfillment options. The most credible alternative for companies with brick-and-motor locations becoming Buy Online Pickup in-Store (BOPS)
3. Progressive Web Apps for eCommerce
Many eCommerce companies are turning to progressive web apps. Understand that these are mobile websites that have a similar feel and look to native mobile apps. Companies such as Gmail and Twitter have always used PWA technology to retain more customers. Note that the Coronavirus pandemic has impacted the advertisement and marketing of eCommerce businesses.
4. Dynamic Pricing to Drive Profits and Optimal Sales
Optimizing your product prices will drastically boost sales and profits for the eCommerce business in Q4 2020. Note that it is not about undercutting your competition but pricing your products according to their context.
Now that you understand the emerging trends due to the Coronavirus pandemic in Q4 2020, you can critically design a plan to expand your eCommerce business. The first step is to evolve your e-commerce website to ensure it stays competitive and relevant. You can contact us to help you transform your eCommerce website. Reach us today and get expert advice from a professional in the field.