Everyday life has taken a new form. The global economy is faced with a recession since the great depression in the 1930s. Amid this nosediving economy, online businesses have seen an exponential rise. Keeping the people’s safety in mind, various platforms started offering services that have made our lives easier amid this emergency.
With the overall concerns that surround the advent of another lockdown, there are major fluctuations in the overall consumer behavior. As such, it is high time that we should examine how independent retailers can prepare themselves for on-demand services.
As per the new market research by Urbanmarket – an app that is responsible for providing retailers with the respective ‘scan & go’ white label, revealed information about the overall rising concerns that surround the second wave of COVID-19. This is leading to yet another surge of instant & panic buying across different corners of the world. If the given trend is anything like the previous wave of coronavirus, we can look forward to yet another major increase in demand for essential products –especially with the help of online deliveries.
We are quite familiar with the fact that how the public has turned to the concept of online services and on-demand services in the matter of the past few months. It has led to an overall increase of around 33 percent in the field of online on-demand services. The given research is known to reveal that the given percentage will continue growing in the coming times.
The Overall Surge in Online and On-demand Services
The surge in the overall demand for online or on-demand services is going to last for as much as the lockdown itself. However, it is going to influence something that has already been perceived as a perpetual increase in the overall volume of internet shopping over a significant amount of time.
For most of the on-demand grocery buyers, the given period might even consider representing the first time that they had some positive experience that they will be likely be coming back for more. They also aimed at trying out new companies as well as new products upon the improvement of the overall confidence and online skills.
Likewise, the overall data collected with the help of online shopping might prove useful in answering the overall rise in demand. The implementation of modern retail technology is going to be one of the ways that retailers in any country can consider safeguarding themselves against the overall fluctuations in the overall demand and consumer behavior.
With this, the stores and supermarkets can look forward to accessing more in-depth and accurate consumer data while helping them to analyze the overall behavior, manage stock efficiently, and effectively communicating directly to the consumer base.
Around 43 percent of people admit that they want to ensure minimal human interaction while shopping. At the same time, around 34 percent reveal that self-checkouts are known to lead to major anxiety due to the overall hygiene concerns as well as proximity to the nearby shoppers.
As a matter of fact, it is observed that 4 out of 10 people are no longer used to make use of cash while shopping or when in restaurants or bars due to the overall concerns related to the transfer of germs. You should read more about, How an On-Demand Service Platform Help You Set Up a Professional Service Website?
Growth of Online Services During this Pandemic
The online world has forged a way for many businesses to flourish. The digital presence is playing a massive role in marketing the services to a broader audience. Following are the business sectors that have seen rapid growth during the Covid crisis:
- Ed-Tech Platforms:
Schools, colleges, and universities throughout the world have been shut indefinitely. This period has seen a rapid increase in users on the Ed-Tech platforms. Classes are being conducted online all around the world. Ed-tech platforms are serving as an alternative for students and professionals to upskill themselves amid this lockdown period.
Popular education platforms like Coursera, edX are providing free courses to students from top universities like Yale, MIT, Oxford, Harvard, to name a few. Many Middle Eastern countries have seen a surge of students opting for online courses. Many ed-tech platforms (both homegrown and international) have offered free registration to the students due to massive demand.
For example, White Hat Jr., an ed-tech startup that teaches coding to kids. This startup has seen a 40% growth during this pandemic. The business is booming in the United States. In the US, it has seen a 200% growth each month in 2020. Online classrooms do not have the same impact on learning. Nonetheless, it has become the only convenient option in this situation.
2. e-Commerce Industry:
Customers are under lockdown since the beginning of March 2020. Production sectors were under rigid lockdown as well. As a result, many small scale businesses have shut down. However, online retails have seen massive growth. Bulk buying because of the lockdown scare was also seen.
Virtual shopping has become a trend during this pandemic. Due to safety reasons, people stopped gathering in shopping malls. Social isolation has turned people’s attention to online shopping. Groceries, garments, jewelry- everything is being sold online.
E-commerce retail was already reaching a peak worldwide. People who were skeptical about the pros of online shopping have also adapted to this culture. This worked as a significant factor in making Jeff Bezos the wealthiest person in the world.
3. OTT Platforms :
Pandemic provided a massive opportunity for ‘Netflix and chill.’Outdoor entertainment hubs have been closed during the worldwide lockdown. In this period, OTT platforms and online gaming platforms saw a massive increase in users. Netflix, Amazon Prime, Hulu saw a massive surge of subscriptions. According to statista.com, 404,444 hours of Netflix content is consumed by users worldwide in 2020.
Online gaming platforms have witnessed a growth curve in 2020. Charity initiatives by gaming communities all over the world to meet the needs of the COVID-19 crisis is noteworthy. As a long term impact, the e-sports industry is gaining its potential to be one of the biggest industries in the future.
4. Food Delivery Services:
The cravings for fast food never goes away. Take-away services and home deliveries from food-chains are available to mitigate food cravings. Food delivery services like UberEats, GrubHub, Zomato, Swiggy saw a fall in the March-April period. Soon after, it saw a considerable rise.
Restaurants are strictly following WHO health protocols to serve hygienic food to consumers. The excellent safety of customers is being kept in mind. Delivery services all over the world are offering contactless delivery options to minimize the spread of the virus. If you are more into it, understand the Top 15 On-demand service platforms.
5. Workplace Solutions:
Work from home culture is in full swing. Offices being shut down, meetings are being held through video conferences. Zoom, an online video conferring app, has grown wildly popular all around the world.
Platforms like Google Meet, Go To Meeting, Cisco Webex had been downloaded millions of times as per Google play store. These apps have proved sufficient to conduct meetings and even online classes all around the world.
6. Health and Wellness:
Pandemic also caused a boost in the health and wellness industry. People are becoming more health-conscious. Everyone is following exercise regimes.
Wellness centers have also started online coaching. Medicine manufacturing companies are also booming with profits. A massive sale in immunity boosters has also been observed during this pandemic.
7. Beauty Solutions:
Stepping out of the house is a scare nowadays. Beauty salons and spas have massive potential in spreading the virus. Hence, many services like this are also made available. For example, the Urban company is offering salon services at home.
Health protocols are being maintained, keeping in mind the safety of the consumers. This one of the most innovative ways that businesses have responded during this pandemic.
Many small scale industries have kept their businesses afloat by selling masks and sanitizers. Masks, sanitizers, disinfectants are in huge demand. Bulk buying of these goods are also seen among the people. Small businesses are rapidly adapting digital marketing strategies to incur the losses faced.
This pandemic has brought great devastation. At the same time, Mobile Apps are Booming During this Pandemic. News headlines contain only shreds of corona related information. It is said that everyone is in the same boat amid this crisis. It is so not true. Many small-scale industries have been shut down due to huge losses. There has been a rise in unemployment to companies cutting out losses.
On the other hand, employment opportunities have opened up in various sectors as well. A change in perspective is required in this situation. More and more businesses should create their digital presence to reach a broader audience. Adapting to the current situation is the only way to shine in these dark times.
However, as per another study, even when 38 percent of people are known to make use of the concept of online shopping more since the advent of lockdown, they still have admitted to finding the same as inefficient due to the overall insufficient delivery of slots & replacement items.
Another study on an eCommerce platform stated that some of the major supermarkets are all going through the need for further improving the overall customer experience as well as delivery capabilities for fixing the given issue. At the same time, it is aimed at preventing major shopping giants online like Amazon to take further market share.
The usage of these services is increasing all around the globe. Many startups are developing on-demand apps with unique features to compete with the existing ones. There is no doubt that there is no future for any traditional industry without on-demand apps. You can also check the industries that drive the on-demand services in 2020.
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