The Role of E-commerce in 2020
Transactions between humans have existed since we established ourselves as social beings. At the beginning of human civilizations, people exchanged what they were able to produce for other items they needed. So, for instance: a farmer was able to exchange apples for perhaps a chair made by a carpenter. Still, with the increase of these transactions, the element of money was introduced. Though this is a tremendously simplify version of the history of economic laws, it shaped the way we purchase and sale goods. Since the internet, a new element has been added to the mixture, e-commerce.
E-commerce, the combination of electronic commerce, refers to the buying and selling of goods or services using the internet and the transfer of money to seal these transactions. Ecommerce is often used to refer to the sale of physical products online, but it can also describe any commercial operation that is facilitated through the internet. The history of this form of exchange can be traced back to August 11th, 1994, when a man sold a CD to his friend using an online platform. E-commerce has also evolved from this first point of start, but in the current situation, it is facing incredible challenges, although it is rising above them all.
Different organizations dedicated to measuring the impact that the global crisis for the COVID-19 is having in Internet Commerce since the beginning of the year are providing statistics worth taking a look at. After analyzing 4.4 billion sessions in 20 sectors of the economy from January to March 2020, the Spanish firm of statistics Contentsquare showed that not all the sectors are facing the challenges of this crisis equally. Retail healthcare and telecom were sectors that showed an increase of 25% of electronic transactions, showing the tendency of consumers to storage goods for basic needs and their desire to be informed in real time-consuming mass media communications. Supermarkets collected 42% of the totality of the transactions showing a fast acceleration in the weeks before confinement. Raising a total of 46% of transactions, digital media and social media was at the top of online sales, since people started being more present in the digital realm due to the almost global status of quarantine.
In front of these results, we at Shake to Win wanted to provide a few valuable tips for companies that are looking to move to an Ecommerce method of transaction. It all starts with a good e-commerce strategy, but we understand entering this scenario can be a little overwhelming. We suggest answering these three questions:
Who is my customer? What requirement and needs do I fulfil? What channel (or channels) do I need to use to reach my customers?
By knowing who your customer is, you can create a figure for references and then provide your products and services in a more direct and focused way; you can include demographic information (age, revenue, location, etc.), for example. After establishing who your customer is, now you can determine how your brand and your products fulfil their wants and needs. Knowing the channel (or channels) to reach your customer can be a little more complicated since it might more research, but an excellent way to answer this question is by seeing where do your customers spend their time (it might Social Media, or a Blog).
In our research development for this article, we also achieve some pieces of advice that could help you to better navigate the e-commerce format for your business during difficult times:
Acknowledge global problems (such as the COVID-19 pandemic) but do not depress your clients. We at Shake to Win continue to generate content and developing creative solutions to fight through the limitations imposed by the current global situation.
Provide a virtual escape, but do not run out of resources to do it. For instances, we at Shake to Win are currently running the campaign Travel From Home to entice tourist to continue to make trips to international destinations and offering them our portfolio of partners and contributors, and all of the content we managed to collect and carefully organize.
Partner yourself with a reliable platform for Internet transactions. You do not necessarily need to create this tool in your organization, but you can delegate it to professionals in this realm. We at Shake to Win offer a selection of packages for organizations ranging from small businesses to big cultural organizations to present their products to their target audience.
We invite you to write us an email or to contact us to know a bit more about our products and services, and to participate in the campaigns we organize to go through difficult and challenging times.