The coronavirus crisis is acting as a whirlwind on e-commerce, according to preliminary data obtained with standardized metrics on online sales before and after March 11, a date considered to be the start of the global quarantine. This spiral driven by the Covid-19 translates into an impressive rebound in demand for fresh products and, in general, those linked to basic necessities in the supermarket. Of course, online shopping is nothing new, they have been growing in the last decade until reaching a turnover of 3.5 billion dollars in 2019.
Online Sales Platforms take Advantage
A few months ago, the action of buying in Panama largely depended on going outside, fighting with traffic and praying for parking in either a shopping center or supermarket. Doing it today can carry a risk from Covid-19 and this has led people on a massive scale to shop online.
Platforms such as Amazon, eBay, Alibaba and other businesses have benefited, just as “Delivery” Apps, especially food apps, have increased their profits.
This global coronavirus phenomenon has favored many sectors, and others have been affected on a large scale, especially shopping malls and commercial centets that had to close their doors indefinitely. What’s important is that it has forced companies to reinvent themselves to continue offering their services.
Online Business Speculation
During this pandemic, commercial speculation has arisen. Websites are offering products at prices far above their real value as well as very little information, sometimes null on products. The objective of this practice is to take advantage of the need to buy a product quickly and the anxiety that this generates. Amazon has been one of the first virtual markets to take action against these practices, and has suspended nearly a million products that could be abusing the consumer due to fear of the coronavirus.
As for eBay, the company has warned sellers that it will block the sale of new and existing products on its website, such as disinfectant tissues, gel alcohol and face masks. ” So far they have recalled about 20,000 products, mainly due to the unjustified increase in prices. And yes, all these portals have been increasing their profits before the commotion of online shopping.
Benefits of Buying Online During the Pandemic
Online shopping has been positioned as the most convenient option to acquire supplies during this quarantine. The benefits consist of a wide offer and access to products that may not be easily found in the environment, it also allows the possibility of comparing prices with great ease, followed by a quick delivery and a simple return product policy.
Disadvantages
Not everything shines on these platforms where with a single “click” you can buy almost anything. The main disadvantage is the impossibility of trying or touching the product, another unfavorable aspect is that the purchases are impersonal and the there is a greater probability of being a victim of fraud, an example: the method that consists of web pages that imitate real e-commerce pages to deceive the consumer.
Sustained Growth
Several studies indicate that during 2019 e-commerce accounted for 13.7% of total sales worldwide. By 2021, predictions point to the number rising to 17.5%.
