The pandemic has put a stop on what we knew as normal life. Within this, stores across the UK have been told to shut down and find alternative ways to generate revenue. We’ve seen small businesses forced into shutting down because they couldn’t keep up with the pandemic restrictions. Firms with a heavy online presence have been able to benefit and take advantage of the current situation because they can continue operating by exchanging goods online. However, the big sharks aren’t always winning-big stores like Primark are unable to operate under these conditions because they have no online reach to continue selling goods.
The measurements taken by the government has proven to be successful in reducing the spread of Covid-19. The temporary closure of central locations reduces the amount of people that are exposed to the virus. Could this be a new norm for the future?
Benefits of e-commerce:
- Reduce the risk of spreading the virus.
- Lower set up and running costs
Online businesses don’t have to worry so much about high rent costs, wages, staff or fixed costs which means they can put the additional money toward growing the business.
- Business can be operated anywhere.
The beauty of being online is that you only need a location with internet – which is pretty much everywhere.
- No opening time restrictions
The ability to take orders 24/7…
- Easier for everyone
Consumers and producers will find it easier to find each other which saves time and energy for everyone.
Disadvantages of e-commerce
Online portals have been in the news a lot because of hacks by cybercriminals and hackers.
- Site crash.
E-commerce is fully dependent on internet connection. A major disadvantage of e-commerce is putting a stop to buying capabilities because of a site crash.
- No possibility of tried and tested product
Customer is unable to try and test the product for his own satisfaction.
- Late delivery.
- Some products are difficult to buy online.
- Lack of privacy
Some sites do not have advanced encrypted technology that can protect your personal details from hackers, and it is a cause of grave concern.