eCommerce, like all other industries, is facing the uncertain effects of the coronavirus outbreak, which has caused thousands of deaths across the world. There are many challenges that eCommerce businesses face after the pandemic situation. By preparing instead of panicking, eCommerce retailers can tackle the next few months with fewer difficulties.
We have touch based on the immediate solutions that can quickly protect retailers from the coronavirus effect.
Safety and support takes priority
Source: https://corporate.walmart.com/coronavirus
As a commitment to the health and safety of customers, suppliers and employees, retailers need to ensure the safety of all stakeholders and support those affected or quarantined by COVID-19. Make sure that the work environment is cleaned, regularly sanitized and protected. Social distancing is the new normal and retailers should adapt to social distancing needs like contactless delivery.
Get in touch with suppliers
Maintaining a good relationship with manufacturers and top suppliers is essential. Get to know the situation and the severity of the coronavirus impact. Bring in a sense of ‘togetherness,’ collective responsibility, and explore possibilities of how mutual help can ease the situation. Follow best practices and be cautious with suppliers looking to exploit the crisis through price gouges (overcharging).
Order goods in advance
Suppliers can shut down their production anytime. A smart retailer has to stock up their warehouses with as many goods as possible. This helps avoid bottlenecks like surge in demand when customers resume normalcy.
Expect sellers market scenario
It’s better to ration your sales and keep stock of all goods for as long as possible to avoid losing customers. It means limiting the quantity per user and other measures to serve maximum customers rather than disappointing them with ‘out-of-stock’ situations.
Notify and assure customers
Source: https://www.homedepot.com/
Retailers have to assure customers that they are doing their best to ensure a seamless experience despite tough situations. Be transparent on changes in business operations, delivery delays, when products will be back on stock, and other related scenarios that help customers in their purchase decisions. Have plans to adjust the logistics, supply chains, and transportation to deliver the products as quickly as possible.
Focus on top-selling products
Source: https://www.bestbuy.com/
A crisis is also an opportunity to enhance customer satisfaction. Go the extra mile in procuring the top-selling, most-profitable products which not only help cater to a large number of customers but also help grow the business.
Conclusion
Facing pandemic is not completely new as industries have faced them earlier in the form of H1N1 (2009) and Ebola (2014). But the severity of coronavirus at this scale, affecting millions of people worldwide, was unforeseen. It’s tough to face reality, but one can’t deny the opportunity for online retailers to continue to serve the customers despite the limitations. If they are well-prepared, they can not only make their life a little better but grow their business as well.
