E-commerce. How COVID-19 is changing e-consumer habits

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In the last few months, almost everything has changed, and it seems that we will not go back to the old ways. COVID-19, and with it the economic lockdown and the impending recession, will permanently change the habits of e-consumers, but not everyone will react in the same way. How will the changes progress among different groups?

Long-term forecasts about developments are, of course, subject to a high risk of error. Much depends on how long the coronavirus threat will determine our economic situation. However, you don’t have to be an expert to adapt to changes and learn from the mistakes others make.

How COVID-19 is changing e-consumer habits – table of contents:
The youngest are the most scared
Women are concerned, but men are the ones who buy less
Revenue changes in e-commerce
The youngest are the most scared
Younger age groups have had no problem with digital shopping benin whatsapp number database some of them don’t remember the reality when it wasn’t like that. And it’s this group’s behaviors, according to Big Commerce’s research, that will change the most.

A survey of younger consumers in the US and UK found that among Millennials and Gen Z , up to 96% say the current situation is definitely influencing their purchasing choices. This is likely the biggest global crisis they will face in their adult lives, which is pushing them to make radical changes, including, above all, cutting back on spending .

Richer experiences and, certainly, a more stable financial situation allow Gen Xers and Boomers to worry a little less. As many as 24% of Boomers and 34% of Gen Xers say they don’t let current events influence what they buy .

Women are concerned, but men are buying less
The data also shows that women , although more concerned than men about the effects of the crisis, change their behavior less . A third of men, compared to 25% of women, say they are significantly reducing their spending. It was also found that men are more likely to buy online and are more likely to avoid shopping in stationery stores.

Revenue changes in e-commerce
The decline in brick-and-mortar shopping in response to #stayathome campaigns was obvious from the start. However, there were predictions that e-commerce would make up for the losses for traditional retailers. Indeed, a study by Engine showed that people spend an average of 10-30% more online , but actual sales only increased in certain sectors , such as those selling household goods or food.

According to Nielsen data , sales of hygiene products and masks are up more than 300%, as are sales of shelf-stable food products . According to ShipBob data, month-over-month growth in online food and beverage sales is 18.8%.

During the forced lockdown, people are also seeking online entertainment with greater intensity, as evidenced by the increase in digital subscriptions to Netflix or Amazon, and in Western countries also to Hulu or Disney +.

Other sectors, however, are not doing so well. It is obvious that entertainment, catering and tourism are losing out , but fashion and luxury goods will not come through the crisis with dry feet either.

Vogue Business predicts a potential loss of up to $10 billion for the latter category. This is partly because luxury goods rely heavily on the purchasing power of the Asian market , where – despite a sharp recovery – the pandemic began a year and a half ago and things have yet to return to normal. Online clothing sales are also in decline. People are spending more money on everyday necessities, postponing other expenses for the indefinite future. And there are signs that – even after restrictions are eased – they will opt for products in the lower price range.