Understanding COVID-19’s Impact on Ecommerce
COVID-19 has upended life as we know it, but despite slowing economic and social activity, COVID-19 has led to a boom in the digital economy.
According to Inside Australian Online Shopping Update – Dec 2021 by Australia Post “SA, WA, TAS, QLD and NT led the surge in online purchases with increases of more than 30% month-on-month (MOM).
All states and territories recorded positive growth YOY with NSW and ACT the strongest performers, both growing over 25%.” (source)
As lockdowns became the new normal in down under, consumers turned to online shopping more than ever before. In 2020, over 9 million Australian households opted for online shopping; that’s 82% of all households. (source)
As consumers shopped online often out of necessity, businesses stepped up to the challenge and accelerated the digitisation of their customer and supply-chain interactions. Retailers are now embracing new technologies to satisfy ever changing customer demands.
The change to online shopping behaviour has led to a surge in the use of contactless payments as consumers are avoiding cash transactions. Over the course of the pandemic buy-now, pay-later solutions like Afterpay and Zip are becoming increasingly popular.
The changes that were accelerated by the pandemic are here to stay. Consumers are now expecting seamless and exceptional online shopping experiences and are less likely to revert entirely back to their old shopping habits.
If you’re looking to grow your business further, now is the time to look into your customers’ journey. Perhaps your eCommerce site needs a refresh, or you need to get online to keep up with the competition. Give us a call on 03 8804 0820 or email firstname.lastname@example.org.