According to a report by BigCommerce, not only has the pandemic influenced panic buying and stockpiling, it has changed shopping preferences online and sources of revenue across the different sectors of e-commerce. The instant reaction to the viral outbreak which has unleashed a spiral of uncertainties in our daily lives caused people to stockpile and buy goods in excessive quantities, one can find this behaviour synonymous to retail therapy. It could be a form of coping mechanism with dealing with the unknown virus. Essentials and medical gears like facemasks and sanitizers are totally off the shelves in stores and out of stock on shopping outlets.
Furthermore, due to the global practice of social distancing as a way to flatten the curve on the spread of the virus, many consumers have turned to shop sites and mobile applications like to acquire their needs. You may wonder why are people still spending cash in the face of such economic uncertainty, it is important to understand that the situation has changed the hierarchy of needs per household with a strong motive to ensure that supplies, especially essentials like preventive health and wellness products, pantry preparation and protective gears such as gloves and face masks are available. Also, this period is promoting home activities like gardening, home exercises, home renovations amongst others.
High-risk countries that are heavily impacted by the viral outbreak are showing a sales increase on Amazon select categories that are influential to maintaining households, Sellics.com gives a breakdown on main shopping categories that have experienced sales increase during this period. RTE also gives an outlook into how much of an impact the e-commerce industry would have during this period and beyond.
Have you been shopping online during this period? On average, what do you commonly purchase before this period and no? kindly leave your comments below.