The Changing Market Scenario: A Need For E-Commerce – OpEd
By Hamayun Khan
By Hamayun Khan, Himanshi Aplani and Jigyasa Midha*
Since the operations of E-commerce retails and other web-based platforms, all over the world, are in full swing given the outbreak of the pandemic COVID-19, nonetheless, offline retail bear the brunt of this contagion because of the rampant halt exacerbating the operations of offline businesses. To avert the consequences thought to be hailing from the spread of the novel coronavirus for offline platforms, the inclination of a necessity for E-commerce is generating.
With the fast-track spread of the contagious COVID-19, an unprecedented mechanism comes into the picture, merely those businesses or companies that are largely dependent on web-based technology can ride out this outbreak. The contagion virus engenders a robust demand for the use of internet-based commerce making it more important for the retails to switch into an online mechanism. E-Commerce has proven to be a pivot-hub for Online services both directly or indirectly related to all sorts of activities be it a profession or ordinary life. before making an entry into the e-world, one has to thoroughly understand the core concepts of e-commerce, because jumping into the already crammed business climate wherein a stiff competition could hinder the fresh comers with an unprecedented financial loss.
When the discourse of online mechanism is kicking around, it is necessary to know the imperatives of online shopping which is a much-needed element at this critical situation where the outbreak of the pandemic risking human life across the globe. However, the contagious virus has deterred solely the business operations of the e-commerce companies, still, those companies with innovative and dynamic strategies about online shopping are surviving and doing good by exploiting the highly demanded market for safety and hygienic equipment. Amazon in India recently started shipping equipment needed for safety and other pharmaceuticals to the people who were in a dire need for it, nevertheless, the company is interdicted from running normal business activities.
Further, the need for e-commerce is even more when a pandemic or natural calamity outbreaks, because all over the world, universities, schools, and colleges started facilitating online webinars and classes to the students, as students are supposed to stop going to crowded places and maintain social-distancing to help avoid the spread of the pandemic. This is why many companies have begun providing online internships to interested people, others also adopted the same strategy, for instance, Google, IMF, WHO, and UNESCO went on to announce the free online courses to encourage people to stay home and utilize their time by learning.
According to a report published by the Economic Times that highlights the contagiousness of COVID-19 and its uncontrollable increasing spread has triggered people to explore web-based shopping options for essential products and services needed for health and safety. Since the shipment of health-related stuff supports the lockdown and social distancing where people are restricted to keep physical contact. Some Industry experts have termed e-commerce as the lifeline for cities under lockdown to combat the pandemic.
As per the standard rules laid down by the 4th Industrial Revolution, all the governments are required to encourage the understanding of various sides of e-commerce, to unfold its many benefits for the future of the firms, and to speed up the transmission of country’s business firms into a digitalized platform. Capacity building practices are must and be put into practice to accelerate the operations of MSMEs and optimally use the e-commerce services to meet the needs of prospectus consumers. Efforts must also be taken to make e-commerce penetrate the market. Besides, all the academic institutions and corporate firms need to open doors for the E-Commerce to provide services and products to the customers using online means, because the outbreak of the pandemic has changed the outright marketing climate for firms to divert concentration from offline source, mainstream online platforms and cope with changing atmosphere.
*Hamayun Khan, Himanshi Aplani and Jigyasa Midha are final year students at IK Gujral Punjab Technical University.