A big crisis brings about a major shift. Similarly the covid times and later here we stand at a thresh hold of market speculations. Disclaimer that none of these thoughts, factors or calculations are based on any theory, instead are completely generic in nature and coming from an area of positive intuition.
The lockdown happened unannounced, sudden eerie silence forsaken with the fear of unknown. As human undoubtedly we suffered a state of anxiety and unrest but surfaced due to adaptability. Some geared rest unprepared. The big buzz was “essential commodity” and so were the big e commerce giants. The privilege tribe who not only had a robust profit but also unintentionally swallowed the small fishes who had barely learnt to swim in disturbed waters. Apparently apparels was a non essential commodity but with time and relaxations the big giants stormed in that area too making the local, small and innovative enterprises to dissolve. Well not many could emerge after immersion therefore surrendering their morsels too.
Let’s take a leap from then and now. Consumers responded well to the metamorphosis post covid outbreak and omni online services. I feel one of the primary reasons could be a lack of choices from selective sellers who did not prioritize apparels as their best product choice. The lock down impacted the human and consumer behaviour to be more practical and impartial towards small businesses. A tectonic shift in shopping pattern followed where consumers moved away to minimalistic approach with prioritization.
Thus online has bitten a chunk of retails too as consumers convert to digital first. The prime reason being isolation from public places but equally the wide arena of choices one gets from big and small multiple online stores. The window shopper community has been rechristened to the window browsing community. As opposed to common assumption that digital is the way to go and is getting a bigger percentage of reach, engagements and conversions in numbers, the retailers are receiving more assured customers who come with a fixed mindset of what they want to buy, prefer not to shop hop and spend less time fixated on their needs. These are assured customers and only the hover shoppers have shifted to digital. Undoubtedly crowd pulls more numbers as they too are influenced by virtual trends of what’s in and out via ratings and reviews with the rise in digital marketing and social media playing a pivotal role.
Another influencer is the youth who tend to spend more on online sales. In addition they are more cause driven and feel more responsible for the planet post pandemic. Environmental awareness is impacting “Green Consumerism”. The sensitive contribution is that most consumers are willing to purchase from new and independent business as first timers. It’s noteworthy how lack of work and tumbling economy globally has influenced people positively to pull each other out of this situational whirlpool. This drive will help boost small business modules as opposed to the already established ones.
Happy and prosperous and above all a healthy New Year 2021 as we see a surge in economy, employment, opportunities but above all “HUMANITY”.
UNITED WE CARE! Kasha’s “Green Dream” initiation. https://lakasha.com/kasha-green-dream/
Shal K
