COVID-19 brought with it a negative impact but also increased the e-commerce retailing and allowed the digital market to flourish too rapidly as compared to the previous decades. According to the new index, online retailing has increased by 184 percent through bank transfer that the accounting and financial scopes have swiftly proliferated.
E-commerce has evolved ever since the global government's excessive lockdowns. Practically, almost 28 days of continuous lockdown was implemented. It led to unemployment, which suggested online marketing to retailers. It is where E-commerce became a necessity.
While making an index report for electronic commerce, the news quickly surfaced around the market about online shopping. It was brought into attention that the corona virus outbreak led to the selling of fast-moving consumer goods categories, including packaged goods with no durability. Electronic and appliances were the first category in the e-commerce market. Along with Mobiles, tablets, and fashion ranking second and third in the index.
In Pakistan, there is a vast community promoting online shopping through e-commerce. Some of these are Daraz, iShopping, Goto, Clicky, PakStyle, ShopDaily, ShopHive, Affordable, ShopRex, Shopsy, BnB accessories etc.
Globally, it was perceived that the e-commerce market got attention, making everyone work their fingers to the bones. A massive increase of a sudden 76 percent made every retailer own up to their word. There was an increase in the demand for hand sanitizers and hand washes.
There is an increased challenge in the e-commerce market. The retailers have started getting more orders than usual. E-commerce had to take over cyberspace in the previous decade, but E-commerce has forcefully generated more attention at the end of this decade. The banks have subsided the charges made during transactions and debit since direct cash transfer is no more preferred.
Everywhere direct contact between the buyer and the seller is avoided as much as possible. E-commerce lets the clients handle everything online, from receiving the order to undergoing payment methods and filing complaints. Whereas, the buyer only has to place the order and pay through bank. It was brought into attention that increasing index in the commerce market is efficient since many retailers and recipients have finally come across accepting that online marketing is well working and the only solution for these uncertain times.
The total e-commerce revenue is mostly dependent on online shopping. Previously, many buyers were not as sure, but COVID-19 precautions have allowed the same traffic to place multiple orders.
Many startups that were not getting acknowledgment before have progressed by getting more traffic globally. The revenue market made an unexpected increase in income by 8 billion dollars in 2019, but in 2020, it has immensely increased by 30 to 40 percent in Pakistan. Since online retailers are getting traffic more than usual, it has led to late deliveries and replies to the complaints.
In my experience from online shopping In Pakistan, it has achieved considerable attention during lockdown due to COVID-19. All the brands are providing late deliveries but original products. But, some fraudulent have also flourished by bugging people in unauthentic deals and looting them by sending false products. I was one of the victims of these services and loss a gross amount for clothes I had to throw away.
Photo Credit: https://propakistani.pk/2018/08/06/strategic-decisions-to-consider-in-e-commerce-in-pakistan/