Corona Impacts on Retail Business
The coronavirus is spreading around the world at a rapid pace and is also affecting the retail business. Here, we will check the solutions for all your burning questions. One of the most common questions asked these days is how we can overcome coronavirus impact on retail business. Read below to figure it out. Before that let’s have a look at the statistics.
According to Data Available on the Internet
– More than one-third of U.S. adults are shopping less at stores. Due to the spread of COVID-19, it is expected that more than half of the Americans are going to shop through online shopping apps.
– Morgan Stanley analysts found that last week total retail traffic fell 9.1%, apparel retail traffic fell 3.9% and luxury retail traffic declined by 14.7%,
Now come to the big question is-
How you can continue business during the lockdown period, and especially the delivery of your packages.
The solution to this problem is online sales through the delivery app development solutions. As per the experts, E-commerce is expected to grow by 50% since the beginning of coronavirus.
Online Ordering App Development Solutions-
Many people are avoiding store visits physically but online ordering applications are the perfect way to shop for necessary products and items to make this turbulent time more manageable from their homes by using their smartphones.
Health products have been a key driver in this short-term growth. Data below shows the percentage increase in sales in the week of Feb 22-29 compared to the week before.
Hand sanitizer sales increased by 420%
Disinfectants sales increased by 178%
Bottled/packaged water sales increased by 78%
Vitamins sales increased by 78%
Tissues sales increased by 43%
Hand soap sales increased by 33%
Toilet paper and paper towels sales increased by 26%
It all happened because of the lockdown and sudden increase in demand throughout the world. The situation is the same as the other business spheres like food, grocery, milk products, and other necessary products. The data may vary from one location to another. But the situation is similar around the globe. Hence, owners of businesses can learn a lesson from other countries and see the importance of connecting their business with online delivery software.
So don’t waste time and move to Magento Mobile Shop for owning an E-Commerce app for your retail business.