The Curious Case of Corona Virus (COVID-19):
In December 2019, when the first outbreak of Corona Virus (now COVID-19) was reported In China, no one knew how bad it would get. Because the symptoms are extremely similar to the one of common cold, it can be difficult to gauge the difference. With over 100,000 reported cases of the virus, the world is under turmoil. And with it are the business and the trade sector.
Corona Virus has affected the commerce sector in a terribly severe manner when China shut down its trade to stop the infections from spreading. Not only is it one of the world’s largest economies, but it also acts as a supplier to many of the world’s biggest companies. Ranging from automobiles to truck drivers to farmers, China has its roots everywhere. Brands like Bed N’ Bath, Apple, and Microsoft have already seen an effect on it. And from the looks of it, the eCommerce sector is also a part of this.
Recently, it was revealed that Amazon deleted over 1 million items from its website because they falsely claimed to have the solution to COVID-19. It goes without saying that Amazon suffered from the loss of these sales. When the fear of Corona spread, people refused to even step out of their houses. Avoidance of public places like shopping malls or grocery markets became extremely common. In situations like these, the eCommerce business boomed. However, the supply became limited because of the lack of resources.
Amazon is also experiencing trouble with the delivery of the products due to high demand in household items. Amazon rolled out a blog post in which it stated that they were finding it difficult to match with the demand because of the “dramatic increase in the rate of people shopping online.” Even the 1-day delivery promise for prime members is suffering when the estimated delivery day comes up as four days. Add this to the fact that Amazon has allowed its workers unlimited unpaid sick leaves as a part of their safety precautions. More so, many of its warehouses in China and other parts of the globe are currently shut because of the COVID-19 (Corona Virus) spread.
Both Amazon and eBay have been facing problems with third-party sellers who have increased the prices of basic sanitary and household items like hand-sanitizers and wipes into four times their original prices. In response, eBay has begun to ban and remove any such listings or sellers from their site. Amazon has also issued a statement to all its sellers in the form of a warning, stating that such a price-hike in time of need would not be tolerated.
Over To You
Pressure has been piling up on the brands to meet all the demands. It is suspected that this will cause the prices to skyrocket, plunging the world into a slow recession. What do you think of this ordeal? What do you predict will the future of eCommerce be? Let us know in the comments below! And until then, stay safe!