E-Commerce Store Survival Strategy During Coronavirus Lockdown
Published on April 23rd, 2020
The coronavirus pandemic has changed our lifestyles immensely. More than 190 countries have been affected by this global health emergency so far. Every business type is experiencing challenges and setbacks due to the current situation as countries have imposed lockdown and unnecessary travel bans.
If you want your business to survive these difficult times, a practical and smart eCommerce store survival strategy must be adopted. The brick and mortar stores are closed amid the lockdown and it is evident that the customers have to purchase necessities from online stores.
E-Commerce Sales Growth During Covid-19
How coronavirus could impact on eCommerce industry ? The lockdown imposed in several countries across the globe has forced people to stay indoors. As a result, the e-commerce industry is expecting a boost. People prefer shopping online rather than visiting physical stores in fear of contracting this virus.
According to stats people are spending more time on the internet nowadays. Health products and mandatory household items sales have increased up to an average of 420% during this global health emergency.
E-Commerce Store Survival Strategy
This global pandemic has presented eCommerce businesses with huge challenges, but with the right strategy and intelligent customer-centric approach, your eCommerce business can survive these difficult times.
The following article lists down tips and strategies for your eCommerce store survival during the coronavirus lockdown:
Maintain An Uninterrupted Goods Supply
With time, more countries are imposing lockdown due to which the supply chain is facing huge challenges. To handle this situation and keep your customers satisfied you must be prepared for any possible supply chain challenges. Also, you must have a strategy in mind to counter these setbacks and challenges.
A few tips for encountering this situation include:
- Diversify suppliers: You must have a backup for the supply of products or raw materials. For each delivery, you must have more than one supplier in contact, so that in case of any problem, the other option can be availed. The factors which are considered while choosing suppliers include geographical regional factors, the quality of services, reliability and terms and conditions.
- Tracking supply chain map: Keep track of your supply chain routes and in case of hindrance, you must have alternative routes in mind as well.
- Talk to your suppliers: Maintain seamless and continuous communication with your suppliers. Interact with them politely and with respect.
Add Alternate Products to Your Online Store
Another method to keep your consumers engaged and generate more sales is to introduce your potential customers with alternate products. Launch new products after analysis of purchase history and current circumstances.
During the ongoing Coronavirus crisis, it’s advisable to offer products that are high in demand such as face masks, gloves, hand sanitizers, and other similar items.
Invest in Excess Inventory
It is the need of the hour to pile up supplies that are high in demand during the current situation. This will help you in delivering the orders of customers on time without facing any delays or canceled orders. These factors harm the reputation of your eCommerce business so it’s advisable to pile up your warehouse during such circumstances.
Communicate With your Customers
Effective communication is very important to build customer’s trust. During this pandemic, you must constantly update your consumers about the available products, shipment status, and other important information. Engage your buyers by sending them emails and flyers and keeping them aware of the operational details in each area.
You can adapt to the following tips to help you store survive during this pandemic :
- You must keep your buyers and potential customers informed about the supply chain status, any issues or problems being faced.
- You aim must be to over-deliver and meets customers needs during these difficult times
- The content of your online store must be customized according to the ongoing global health emergency.
- Keep users updated about the measures your e-commerce business is taking to keep everyone around safe.
- Your social media audience must also be kept engaged and updated about the ongoing developments in your online store during the coronavirus breakdown.
Adopt a Customer-Centric Approach
Customer behavior also deviates according to the ever-changing environment. Therefore, during the current crisis, the approach of customers has shifted drastically.
Everyone has a different capacity and approach to buying goods and these changes following the economic tendency of different people.
To make sure that your E-Commerce Store Survives During Coronavirus Lockdown you must be aware of what your customers need. The items high in demand must be made available for purchase to build a strong client base.
User Types During the Current Crisis
To understand what your consumers are thinking, you must be aware of the four types of psychological behaviors adopted by people during a crisis.
- The first type comprises of people who are worse affected economically during the crisis. They will try their best to reduce all avoidable and unnecessary expenses and focus on buying mandatory stuff.
- The second category includes people who are not sure whether they can maintain their living standards during the coronavirus crisis. So, they will focus on purchasing mandatory healthcare, wellness, and safety stuff and avail good deals as well. This group of people will avoid purchases of luxurious items.
- The third category comprises people with secure income so their shopping patterns will mostly remain the same. The ratio of buying essential items will remain unchanged. However, they become more selective in purchasing luxury items during the crisis.
- People falling in this category live for today and continue to buy products from favorite brands and avail good deals.
Collaborate with Local Suppliers
Due to coronavirus, several countries have imposed a ban on international flights. So you must opt for cooperation with the local supply crew to deliver your goods where possible.
Improve Website Performance
During the Covid-19 many buyers may panic and land on your website to buy health and household items. Your website must have a good performance so that the potential customers are satisfied with what they are offered.
As more people are being locked down in their homes, online traffic is increasing day by day, make sure that it does not crash. Keep track of the number of site visitors and perform load testing to ensure that the site can handle all the added pressure.
The content of your eCommerce mobile app and website must be relevant to the current situation. The products and services in demand during this crisis must be displayed on the landing page of the website.
Offer your users with a variety of payment methods and take all the measures to assist you, customers, in getting their desired items delivered. The checkout process must be seamless and robust.
The e-commerce business is vital in meeting the needs and demands of people during this coronavirus pandemic. By following the above-mentioned tips and strategies you can make sure that your eCommerce business survives during this lockdown and your customers are satisfied with your services and products. For more comprehensive guidelines Click on Impact of Coronavirus on E-commerce Industry
