4-STEPS TO TAKE IN AN E-COMMERCE BUSINESS DURING COVID-19

Covid-19 crisis hit the world unexpectedly.  The economy and society as a whole are struggling to cope with the massive challenges from Covid-19. Lockdown measures are profoundly impacting the lifestyle industry like fashion, beauty, jewelry, accessories, sports, and notably much more suffering due to their reliance on business from brick-and-mortar stores.

In this crisis, only a few brands and retailers are managing to sufficiently compensate for the loss of offline revenue with online sales. Although countries are slowly starting to ease lockdown; thus, it’s time to take a deep breath, reflect on the skills learned, and think about the possible future scenarios and how to deal with them. 

In this article, you can learn some tips to ensure your store keeps running smoothly so that your customers can get the products they need even during this crisis.

1. Planning for Capacity Growth: No one wants to overestimate demand and be stuck with wasted inventory. Technology investments allow online retailers to handle more. eCommerce traffic can be expensive and challenging to implement, but it’s now a priority for your eCommerce business. To right-size your digital customer contacts and respond quickly to eCommerce trends, cloud computing makes it easier than ever. Its capacity is easy to scale upward or downward to accommodate demand. 

2. Prepare your Stock Accordingly: Covid-19 will have a significant impact on supply chains throughout the world. To prepare your store accordingly, you can take steps like:

• Reach out to your current suppliers to learn more about their current capacity and predict their future deliveries
• Order additional inventory for your store to prevent long-term stock shortages.
• Find alternative suppliers and products that may be an option for replacing your current items if they sell out. And it’s better to take action now.

3. Invest in Uptime: It’s had a tremendously negative impact on an eCommerce retailer waiting for a website to load. Not only does it make for a frustrating user experience, but it also creates substantial security risks. When a company’s servers go down, they may lose the ability to enforce policies and the control to keep sensitive data secure. Customers wonder whether their orders will not be completed or if their financial information has been compromised. Even if the company can reassure them when systems are back online smoothly, there’s a good chance that customers won’t be returning.

4. Keep your Prices Reasonable: Although it may seem like a good strategy to raise prices on in-demand goods like hand sanitizer, toilet paper, cleaning supplies, or any other items that are in high demand due to the Covid-19 outbreak, don’t use this crisis as an opportunity to boost your profits. It’s not only a morally incorrect decision to use a pandemic to increase profits, but you could also find yourself in hot water with the authorities.  Your services can help those around, so keep your prices reasonable, and make sure that those in need can afford your products.

There is no standard solution to prepare for the new normal for all kinds of e-commerce business after Covid-19. But it proves that eCommerce will become extremely important as more people are required to remain quarantined and maintain distance from other people. So you need to be prepared.

If you have any questions, let me know and I’ll help you start or scale your e-commerce business. To find out the details please join my Facebook Page/Group and connect with me.

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