While witnessing the greatest pandemic of the decade, we have seen the catastrophic scenery COVID-19 has posed since 2020, threatening the very existence of mankind.
The Omicron’s Grip On E-commerce Trends
But unprecedentedly it could foster an unforeseen growth in the E-commerce field and has experienced a boom in the digital market.
Pandemic Turned To Be A Friend
Picturing the scenario, the nationwide restrictions that came with the COVID-19 crisis could boost up the newly normalizing ‘go digital’ mantra and help provide a global platform to the newbies in the e-commerce sector to plant their seed. The businesses and the consumers both could work together to thwart the pandemic by providing and purchasing more goods and services online.
The Voice Of UNCTAD
A report from UNCTAD says that the E-commerce share of global retail trade jumped from 14% in 2019 to about 17% in 2020 which testifies the powerful global and regional transformations in the industry.
The acting Secretary-General Isabelle Durant very rightly pointed out the fact that the businesses and consumers that are able to master the slogan of ‘go digital are able to triumph in mitigating the economic downturn caused by the pandemic.
Entry Of Omicron Into The Market
The global economy has greatly leveraged the E-commerce platforms amidst the pandemic.
Somehow the world was getting to learn to live with the newly challenged lifestyle, reconsidering the habitual changes along with preparing themselves to go back into the world of exploring new things, traveling across the globe. But in the meantime, we encountered the new variant of the coronavirus ‘ Omicron ‘ which has been reported to have 32+ mutations and possess double the transmissibility of the previously discovered Delta variant. This has been recently granted with the status of ‘Variant of
Concern’ by WHO.
Omicron Led To Surge In E-commerce
This is where we could take the ball in our court to bring the baton of change focusing upon the optimistic side of the picturesque, we can rely on the abilities of our extremely talented scientists and the pharmaceutical companies to design effective vaccines to come up with a perfect reply to the new challenge of the threat posed by the Omicron.
The new travel restrictions by the US and other countries have made the population stride across the different business sites present over the internet sitting at the comfort
of their homes. The industries producing items like Personal protection (e.g.- disposable gloves, home activities, groceries, or ICT equipment) have geared up. The surge in the demands of hygiene and sanitation products has consequently accelerated the industries producing sanitary products.
Even in the food supply chain, the farmers who have started using digital technologies to sell their produce directly to the restaurants have eased the food services and grocery delivering services in a smooth way.
The pandemic proof E-commerce sales have channelized ways for basic survival. Citizens have grown aware of online shopping sites and are trying to increase their acquaintance with the digitization of the economy. There has been a large migration observed among consumers to digital sites as a reaction to the pandemic.
A Better Approach Towards Health Sector
The blooming of E-commerce sites has helped shape the mindsets of people towards social distancing, easing their consumerism to their comfort zones. This is not only delivering success for the economy but also being able to downplay the burden on the health sector the world is facing right now.
The Sectors Left On Backseat
We must remember that with new opportunities, comes great challenges. Of course, not all E-commerce sites have been able to catch the racing trend. The demand for items related to travel; sports or formal clothing would obviously face a major setback on the onset of the omicron. The culture and leisure services, the travel arrangements and the transportations have to face the wrath of nature.
For these setbacks, the E-commerce sector needs to emerge with productive and effective alternatives and thereby plan for a better and inclusive framework to mollify the stressful complications aroused in the sector.
Challenges Thereafter
Taking a dip into the existing loopholes in the system, we can observe many of the developing nations, where the consumers and the businesses haven’t capitalized on pandemic induced E-commerce opportunities accounting to the various obstacles, have been left behind in the racing pace of the E-commerce sector.
Since we are very likely to enter into a new wave of a pandemic due to omicron there is an urgency to analyze the discrepancies present within.
The sky-touching costs of broadband services, the ever-increasing digital divide within the citizens, the over-dependence on cash, a lacuna of trust have been the major
limitations to the E-commerce sector.
There is always a way present to ameliorate the obstacles. Reflecting on the steps, our government along with the citizens could enhance financial inclusion, foster trust, and skills among the citizens so as to participate healthily in the E-commerce platform.
Let’s look up to a bright sunrise amidst the darkness of the pandemic.
