TOMS RIVER, NJ, USA, June 17, 2021 /EINPresswire.com/ — 02 Market – How COVID 19 changed online shopping in 2021
16th June 2021 With eCommerce growing amid the COVID 19 crisis, online shopping price comparison company 02 Market looks back on significant shifts in consumption patterns and the impact on customers' safety and financial health.
The pandemic triggered a surge in e-commerce and also accelerated transformation digitally. As lockdowns became the new norm, many businesses and consumers increasingly "went digital." Purchasing more goods and services online uplifted e-commerce's share of global retail trade from 14 percent in 2019 to about 17 percent in 2020.
"The Covid-19 pandemic resulted in a boom in online businesses. Our customers have given us great feedback about the need for new automation tools and solutions meant to help customers find better products at the best prices using the data," says an O2 Market official.
The e-commerce revolution
More than two billion people shopped online in 2020, based on data by Statista. As a result, global e-retail sales exceeded 4.2 trillion dollars.
The vertiginous increase in online purchases recorded during the pandemic will be anything but temporary since consumers are determined to continue browsing and buying.
Most people have the firm intention of retaining their online shopping habits acquired during confinement. About 80% of the customers who used private brands during COVID-19 anticipate continuing to do so.
A new normal
Customers concerned about their health have embraced e-commerce, while businesses without physical distribution channels have adopted this solution as well. Online commerce has accelerated massively as a result.
E-commerce turnover rose by 55% during the third quarter of 202 compared to the same period in 2019. As a result, the online shopping boom is expected to continue, with most buyers saying they will repeat the process.
Social Networks have made the transition from a promotional channel for brands to a sales channel. More than 37 percent of millennials used a social network for purchases in Q1 of 2020. As consumers get more comfortable ordering through their phones, they are more likely to complete entire transactions on social media.
Click and collect
Since the onset of the pandemic, the importance of consumer safety has never been higher. In addition, customers prefer to pay using contactless means of payment. Accordingly, companies offering these services saw their sales increase in the second quarter by 2.3 times.
In two days or less
Customers now need an efficient and straightforward product return process, fast delivery times, and strong personal and payment data protection. American consumers were even more adamant about delivery. Almost half 45% say that if it takes longer than two days to deliver or pick up an item, they'll look elsewhere. More than half of them expect to order online and pick up their order in-store the same day.
Tracking and ordering stood out as essential for buyers. A third of them wanted to know their order status between the purchases until the last minute when the package is delivered to their home.
Today retailers pay more attention to their consumer shopping experience and how they can track and receive the item they purchase as if it was just as important as the item itself.
A desire for novelty
The changes are not just quantitative. Not only are consumers increasing their online purchases, but they are also using new services. 40% say they have used a new brand that they had never used before the confinement. In 2020, brand switching doubled from 2019. Compared with boomers, Gen Z and millennials are more likely to switch brands.
The eco-friendly consumer
Whether for men or women, the main reasons remain the convenience of online shopping at two levels: the ease of ordering without leaving home, which was naturally essential during confinement, and the assurance of being at home to receive the package calmly. However, as sustainability is becoming a global priority, people are also worried about their environmental impact in the post-confinement period.
Online shoppers have driven retailers to drop prices, and thus it is effortless to miss out on a great deal. To solve this, 02 Market displays all price differences side-by-side, without couponing.
While price comparison has historically been made by opening many tabs, but a large number of products and the critical decision-making factors—from return policies to delivery times—in the mix now mean that it is too complex to do manually. The 02 Market price comparison platform seeks to help consumers better manage and use retailer data for better financial health.
Customers can save money online on 02 Market by shopping around at all the major online stores such as Amazon, Walmart, eBay, Macy's, and many more.
About 02 Market
02 Market is the most comprehensive price monitoring and comparison tool for online shoppers, helping buyers get the best deals on the best products. 02 Market helps customers better track prices and compare prices online to save money when shopping. If you're interested, go to https://02.market/how.html.
02 market group Llc
Source: EIN Presswire