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Ecommerce Saving the Day during Pandemic

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Living in a pandemic-hit world for more than a year, we all know that the virus has shown kindness to none! As the world was coping with the immediate disruptions caused by the pandemic posing a twin threat to lives and livelihood, businesses prepared themselves for stepping into a new normal embracing the drastic change and obstacles that were thrown in their way.

India has been recognised as the fastest growing ecommerce industry in the world and the pandemic has only propelled its growth by supplying more wind to its wings and creating a scenario where choosing Ecommerce was not an option but a necessity for life safety. The outbreak of Coronavirus is rewriting a new future of business in India and worldwide.

Ecommerce Booms in the Pandemic

Online shopping is the need of the hour and the Ecommerce giants are reeling in record-breaking sales while delivering on their promise of quality products. When the traditional businesses had their shop shut during strict lockdowns, it was the Ecommerce market that thrived. India’s online retail was quick to recover after the nationwide lockdown with a successful festive sales period right after. Witnessing the vast margin Ecommerce businesses have managed to achieve, countless retailers deployed their online stores for leveraging online shopping in the current scenario.

Ecommerce Data Speaks Of Further Growth

The Indian Ecommerce industry has undergone a huge upsurge due to COVID-19 which has created substantial room for future growth. Earlier it was estimated that the number of online shoppers in the country will increase to over 220 million in 2025, however, these numbers are not so far behind due to a major portion of Indian population turning to digital for their shopping needs in 2020.

Online shopping sales across India aggregated to around 55 billion dollars in 2020 and this has been estimated to grow to over 124 billion dollars by 2024 with a speculated, sharp increase of 84 % in the Indian ecommerce industry, created by the Coronavirus pandemic impact.

A recent report predicted that India’s Ecommerce market will be driven by mobile shopping, forecasting a 21% annual growth over the next four years and the most popular in-store payment methods being cash at 34%, digital wallets (22%) and debit card payments (20%). It projects that cash will be soon overtaken by digital wallets as the most popular in-store payment method by 2024.

What does the post pandemic world have in store for Ecommerce?

During the pandemic, the companies have pushed the technology beyond its tipping point transforming businesses forever with the adoption of digital processes. Companies have accelerated the digitization of their customer, supply-chain interactions and internal operations by three to four years.

It is projected that when the pandemic will subside, the consumers may spend less time digitally, however, they have been so adapted to the convenience of online shopping that the comfort of making digital transactions from anywhere they want to is not going to leave them. Companies can hold onto their new digital customers by gaining credibility and constantly innovating to provide excellent shopping experiences.

CyberWorx Technologies is a leading ecommerce website designing company in delhi that builds robust, conversion-oriented ecommerce websites with a sound and granular comprehension of business-specific requirements to offer amazing digital experiences to customers. Collaborate with CyberWorx Technologies for getting your online store deployed to scale up your business revenue.