As the coronavirus continues to clamp normal life down to a halt, analysts everywhere are turning their attention to the trends developing before their eyes. So far, the shopping industry is proving to display the most volatility.
As brick and mortar shops have closed, online shopping has picked up to cover the gap. This is just the start of many changes in the way customers shop. Analysts expect outstanding changes in the shopping industry after coronavirus, including the below points.
More preference for stocking up
The coronavirus epidemic has launched more product scarcities than any other event in recent history. Everything from toilet paper to hand sanitizer went out of stock in supermarket aisles within days, causing widespread panic.
To worsen things, the lockdown meant that physical shops had to close, limiting access to them even more. Naturally, the same products were marked up online. For many shoppers, this has been a learning moment. Many are going to start stocking up on many necessities earlier to avoid similar shortages in their households.
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Online purchasing becoming the main option
As the epidemic continues, online eCommerce platforms everywhere are seeing booms in sales and customer numbers. Amazon has already reported amazing returns, as have similar consumer marketplaces like Best Buy and Wal-Mart.
The trend follows growth in online shopping triggered by the lockdown measures instigated by cities across the United States for civilian safety. For shoppers, online shopping presents the double pleasure of being a safe alternative and offering just as much product variety as retail shops, if not more.
Post the COVID-19 epidemic, online shopping is going to become the main shopping option for many shoppers. This move will doubly be facilitated by America’s already on-going retail apocalypse, which has seen numerous retail stores from Sears to JC Penney close or go bankrupt.
Priority to purchasing necessities
As many consumers have learned during the coronavirus period, necessities run out much faster than other products. Essentials such as toilet paper, toiletries, face masks, hand sanitizer and cleaning products continue to grow scarce as the epidemic continues.
While food has not necessarily gone scarce in many cities, shoppers have difficulty finding particular items on demand. Shoppers are finding trouble accessing many necessities affordably, even on online platforms.
This trend is going to inspire growth in necessity purchasing among shoppers during and after the epidemic. More and more shoppers are going to direct their money toward stocking up on necessities.
Rise in digital payments
Digital payments for products using digital services like PayPal and credit cards have always been the go-to payment options, but because they promise less contact with other individuals and lower chances of disease, they have seen increased preference in the last three months.
Digital payments have proven to be easy to handle and seamless even in strenuous times, a sign that they are going to play a much bigger role once the epidemic runs its course.
Increased use of delivery services
Shoppers have gravitated toward delivery services even more as coronavirus forced lockdowns on normalcy as we know it. While they have always been popular options for online shoppers and fans of new quick food startups, their popularity has all but tripled with the lockdown.
Due to coronavirus, shoppers have now found that they can no longer allow as much contact with other individuals for safety purposes. Delivery people offer a faster, safer alternative than the usual shopping-in-person style shoppers are used to. The future of shopping involves more delivery companies playing center stage.