#E-Commerce Market Forcast

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How COVID-19 Impacted on E-Commerce in ICT Industry?

COVID-19 Impact on E-Commerce in the Information and Communication Technology Industry

Imbalance of fulfilling the consumer’s demand with respect to groceries and other essentials item has made the e-commerce industry into limelight due to the COVID-19 pandemic. As the people have two options either to visit the supermarket personally or to order their respective product via online.

It has led to the rise in popularity of digital e-commerce web platform like shipt, Walmart, Instacart, Amazon and many more as numerous people finds digital e-commerce services reliable and safe during this time. Almost every customers practicing social distancing rely on this home delivery service the most and are willing to continue this for the next time as well. This has also changed the shopping behavior of the consumers on the geographical level. For instance, it has been witnessed that as compared to U.S., countries like Germany, U.K. and Japan do lack in shopping criteria basically in essential food items and groceries. This can be due to the leniency of U.S. law towards this COVID-19

With respect to shopping behavior while purchasing the item, people have begun stocking the housing essentials including mask, sanitizers, toilet papers and others. This act has negatively affected the overall e-commerce industry to some extent as the companies are failing in fulfilling the huge demand. Thus, this results into an increase in the price of essential items in an uncontrolled way due to this panic buying pattern. It just looks like everyone has to be the leader in the ongoing race of purchasing up unnecessary and irregular items. Based on the gender, it has been noticed that men are less concerned towards the ill effect caused due to this Covid 19 but are active in online shopping. Not only in U.S. there is an increase in new users downloading the wholesale mobile app but it also has be seen an increasing trend from India too. From January 2020, there is almost 50% hike in users who have spent on online and e-commerce app. On the other hand, in South Eastern countries like Thailand, Malaysia and Singapore among others, it has been witnessed a decline in the conversion rates in e-commerce apps. To overcome this e-commerce companies are taking initiatives to shift the consumer behavior towards at a quick rate and have reached more than 1million users on the daily baisis

For instance, Blibli, an e-commerce industry in Indonesia has been providing an easy yet outstanding online shopping experience to its users and has reached more than 1million users on the daily basis through their awareness campaign KarenaSehatNo1 through app push notifications and email.

Changes in the revenue Across E-commerce

·         GROCERY

Figure: Change in E- Commerce spending (2020)

·         OTHER E-COMMERCE CATEGORIES

·         Figure: E-Commerce Consumer Sale (COVID-19)   The e-commerce industry has been impacted on both demand side as well as supply side. Virus related products such as soap, sanitizes, mask, tissue and others has witnessed an enormous rise in demand. Due to the imposed of certain limitation, some companies are not able to respond the changes or adapt it quickly.

·         Apart from this, it has been witnessed a downfall in the sales of fast-moving consumer goods since this time. For instance, in 2020, as per the survey by Digital Commerce in March, out of 304 e-commerce retailers, around 36.0% believed that the business will face a considerable downfall.  Shortage in the number of staff is another big problem which makes difficult for the companies to fulfill the orders. For example, BigBasket and Grofers stated that they have the access of only 50% -60% of the staff due to which their frequency of delivery rate has been reduced which ultimately has made a pressure on them for unavailability of the consumer. Likewise, Amazon too permitted for restricted deliveries mainly the essential items and has suspended the deliveries of certain goods due to the shortage of staff and logistical crisis. Kirana shops which previously faced a stiff competition from digital commerce platforms but at this period of time it is considered to be important destination for buying daily and essential items. Thus, Reliance has planned of digitally connecting with the Kirana shops. This will take place soon with the government tapping logistics firms to link these stores with consumers.

·         Apart from this, many B2B services who are involved into the launch of new platforms in healthcare sector i.e., transporting goods from like vital medical care supplies and ventilators. Many retailers who are especially dealing in essential goods have noticed a boom in their business. Companies engaged into the healthcare amenities consider that customers are indulged into continuous monitoring of their families’ health and fitness which ultimately leads to higher customer engagement. Even the demand for products related to cold and flu has also increased.

·         Online food delivery platform like Swiggy and Zomato follows the contactless deliveries in order to alleviate the fear with respect to hygiene. But still fear of strict police action against the delivering staff has also created the problem. Such type of hurdle indicates of institutional sickness like unaccountability and in affective communication amongst the local authorities which later acts as a challenge to the flawless delivery of e-commerce products.

·         Moreover, it has also been witnessed an upsurge in the demand of gaming, new platform and Over the Top (OTT) media.  For instance, in the first three month of 2020, Netflix, an online streaming service has added a huge 15.8 million paid subscribers. This was mainly due to the social distancing and lockdown in different parts of the world.

·         Thus, it can be said that few sectors of e-commerce will definitely boost not only in this current time period but at forecasting period too. But in contrast to it, the challenge will be of balancing up the supply chain by keeping vital safety measures for this pandemic situation. In order to run the business efficiently, it take lot of manpower starting from warehouse management to goods delivering. So, there will be situation like out-of-stock and delay deliveries and others. But Amazon, as an early mover announced of hiring over a million of people for strengthening its delivery fleet globally.

·         Regulatory insecurity as well as knee jerk reactions in emergency circumstances, cause more harm than good, as obvious from the government’s approach for the supply chain management during pandemic. The government must also provide relief to the small e-commerce players by permitting g them to deliver non-essential goods while practicing social distancing and hygiene. Ensuring regulation, restructuring of foreign investment laws and with better regulatory unity will definitely helps in enhancing the smaller e-commerce players’ growth.

·         However, the growth of the e-commerce will depend upon only on its service efficiency and adaption level with respect to general consumer psyche in long run. Mostly at this time period, companies which will respond better can able to tap better with the shift towards online purchasing.

·         E-commerce has even offered benefit to the farmers by making them to avoid middle men and intermediaries and to sell their produce to the wholesaler buyers including agribusinesses, corporate grocery, restaurants and others directly. This has benefitted the farmers not only with enhanced income but also with wastage reduction and enable financial inclusion.

·         E-commerce is growing at a annual rate of 23% as India, china and U.S. are known to be the biggest contributor for this growth. In today’s scenario mostly these three countries are only highly impacted due to Covid 19. In U.S. till now 10,000 people died while India is still trying to combat the Covid 19 impact with the strategy known as lockdown whereas, China seems to have a control over this pandemic situation. The China’s biggest e-commerce player Alibaba has contributed over USD 2.0 Billion of medical supplies to different countries such as Sri Lanka, U.S., Italy and U.S.

·         U.S. government is yet to announce any lockdown but the e-commerce stores are still working on and continuously involved into delivering products to its customers. Ever since the outbreak of Covid in U.S. companies like Amazon, Walmart and Instacart have faced a rise in the online orders. It has been witnessed that in first few weeks of March, grocery orders has jumped to 210% and is also expected to remain the same in this post-pandemic.

·         European Union asked the e-commerce companies to focused on manufacturing, designing and selling the products which are repairable and recyclable in the March first week. But after the rapidly increase of Covid, the e-commerce players were asked to keep a hold on these request and to continue offer the essential services. It results into building pressure from the consumer’s side with respect to catering huge orders on time. This leads to black marketing and hoarding of products and thus to eliminate this, e-commerce site put a restriction on multiple items. Such type of attempt has helped the overall e-commerce companies and even ensures that each customer should have an access to the essential products only.

·         In U.K. before the lockdown initiation, people got panic and as a result it has raised the sale of specific items including toilet paper, board games, crafts equipment medicines, groceries, home appliances and yoga mats.

·         China being one of the leading manufacturing and supply hub of B2C players in Asia-Pacific region, now due to the Covid impact, e-commerce companies are trapped and are facing a decrease in the demand as almost every country are into same situation. This has resulted China with a small market as the production is totally stopped and even freight ships are put on hold. To normalize this problem, it would take more time to put everything back into normal.

·         Singapore’s Health Science Authority (HSA) has detached around 3000 products from an online platform due to fake product’s information and spiked numerical. This was majorly done to enhance its sales and to make money. But the local government sabotaged the evil attempts of the sellers and e-commerce companies are dedicatedly working on delivering the essential item without being overcharged. License of the sellers were suspended who had participated in this money making business. HAS is also working on coming up with a system who will restrict and identifies such sellers from selling online.    

·         In India, extension of the lockdown period has made the e-commerce executives to go to the government for help. A meeting was held amongst Honorary Piyush Goel, Commerce Minister of India along with leaders from DHL, Amazon, Swiggy, Zomato, Flipkart to grant them the permission of selling at least the essential items. In Australia, e-commerce players have adopted a defensive mode as they are continuously in contact with local municipalities and the government to deliver the essential items on time.

·         In 2020, the e-commerce industry was expected to do a business of around USD 6.0 trillion but due to lockdown and delivering of only the essential items seems that this number will not be achieved. B2C e-commerce companies can only deliver the essential products and services to their customer but in case players involved in B2B are under the lockdown completely. With the shutdown of the factories, in appropriate amount or nil of raw material, workers at home, blocked logistic services results into no product, no administration and no transaction. Moreover, the e-commerce organization has to keep their warehouse worker and delivery agent safe from this Covid infection. This can be done by taking proper measure like continuous sanitization of the workplace, access to mask, gloves and instant medical consideration to those agents with Covid symptoms so that the respective companies can serve their customers regularly and efficiently.

·         The coming month is considered to be tough time for the e-commerce industry as increasing number of death rate due to COVID-19 is making the government to release a curfew in many countries. The respective players have to work in close collaboration with the local authorities as well as the governments so as to run their business efficiently by offering in need with helping hand.

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Growth in Kenya Freight Forwarding Market driven by Strategic Location, Increasing Infrastructural Investment, and Boost in Foreign Trade Volumes: Ken Research Buy Now On the back of the new Standard Gauge Railway and improving foreign trade ties, the logistics sector in Kenya experienced high growth in 2018.

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AI-Infused Contact Centers Market Insights, Trends and Demand Analysis 2020-2025

The presence of large number of contact centers, utilization of AI for enhanced customer support services and timely assistance facilitated by AI, growing adoption of AI-enabled chatbots, rise in digital transformation in telecom industry, media and entertainment ,the education  sectors around the world are driving factors for the growth of global ai-infused contact centers markets.

Scope of the Report:

AI integration can help contact centers meet their broad, evolving business objectives. AI has the potential to be one of the most transformative contact center technologies. AI improves the customer experience in contact. Infusion of artificial intelligence (AI) is one of the latest trends in the contact center. Contact centers contain large amounts of data and AI connects the dots between the information points and alters the approach businesses act with their customers.

Ai-infused contact centers market report is segmented on the basis of component, industry and by regional & country level. Based upon component, global ai-infused contact centers market is classified into services and solutions. Based upon solution, global ai-infused contact centers market is sub-classified into intelligent interactive voice response (IVR) system, chatbots and intelligent virtual assistance (IVA).  Based upon industry, global ai-infused contact centers market is classified into media & entertainment, healthcare, banking, financial services, and insurance (BFSI), telecom, retail & e-commerce and others (automotive, education, energy & utilities, government, and oil & gas).

The regions covered in this ai-infused contact centers market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of ai-infused contact centers is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

AI-Infused Contact Centers Manufacturers:

AI-infused contact centers market report covers prominent players are,

Convergys (Stream)

West Corporation

Avaya

Sykes Enterprises Inc.

Teleperformance

Serco

Concentrix Acticall (Sitel)

Transcom

Comdata Group

Arvato

Atento

TeleTech Holdings Inc.

Others.  

AI-Infused Contact Centers Market Dynamics –

The presence of large number of contact centers, utilization of AI for enhanced customer support services and timely assistance facilitated by AI, growing adoption of AI-enabled chatbots, rise in digital transformation in telecom industry, media and entertainment,  the education sectors around the world are driving factors for the growth of global ai-infused contact centers markets. According to US government report, The U.S. recorded entertainment sector enjoyed a trade surplus of USD 10.3 billion in 2016 and Live and recorded music sales are rising and digitally recorded music is expected to grow just under USD 1 billion in 2019.  In addition, the high requirement for chatbots in several industries, for reducing training cost of agents, personalizing experience for the customers, improving customer service and resolving customer queries quickly are the key factors for growth of ai-infused contact centers market. Also, increase in the demand for the internet and a cloud-based system across several industries is expected to boost the growth of the market in forecast period. As per World Bank, from 2006 to 2016, the number of internet users has increased by nearly 28% from 206.01 million to 286.94 million in the U.S .According to Cellular Telecommunications Industry Association, the total number of mobile wireless connections in the U.S. was over 400 million in 2017.However, Lack of awareness among enterprises and consumers regarding the contact center services will hamper the growth of market. Moreover, adoption of technological advancements in healthcare, entertainment, manufacturing, automotive sectors and increasing internet users, raising awareness regarding the innovative cloud technologies  is predicted to create wide opportunities for the players operating in the ai-infused contact centers market during forecast period.

AI-Infused Contact Centers Market Regional Analysis –

North America is dominating the ai-infused contact centers market with the potential rate due to rising digital transformation in the education, telecom industry, rise in the use of fast-emerging digital technologies, such as data analytics, AI, block chain, IoT, cloud computing and all Internet-based services. According to recent report of United Nations Conference on Trade and Development, IoT devices were an estimated to grow from 9.9 billion in 2019 to 21.5 billion in 2025 and the United States accounts for around 50% of global IoT spending on the devices.  The U.S. media and entertainment (M&E) industry is the largest in the world by U.S. government. According to the PewResearchCenter, estimates that 92 percent of Americans have cell phones and 45 percent have access to a tablet computing device. According to World Bank, almost 287 million internet users accessed the web from United States. According to Pew Research Center, around 26% of adults in the U.S. access the internet almost constantly and also about 98% of respondents in the U.S. from age 18 to 29 were internet users in 2018

The Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period with due to increasing internet users the rising number of smart connection devices and adoption of smart phones. Moreover, developing strong internet infrastructure and adoption innovative technology in developing countries such as China and India.  These are one of the major factors driving the ai-infused contact centers market growth during forcast period. According to Ministry Of Electronics & Information Technology, about 560 million internet subscriptions in 2018, up from 238.71 million in 2013, India is the second-largest internet subscriptions market in the world. Also, India has the second-largest number of instant messaging service users worldwide, behind China, and the most social media users. China is the largest market with 21% of internet users, while India holds second place with 12%, according to the World Economic Forum.

Key Benefits for AI-Infused Contact Centers Market Reports –

Global Market report covers in depth historical and forecast analysis.

Global Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.

Global Market report helps to identify opportunities in market place.

Global Market report covers extensive analysis of emerging trends and competitive landscape.

AI-Infused Contact Centers Market Segmentation –

By Component:

Services

Solutions

Intelligent Interactive Voice Response (IVR) System

Chatbots

Intelligent Virtual Assistance (IVA)

By Industry:

Media & Entertainment

Healthcare

Banking, Financial Services, And Insurance (BFSI)

Telecom

Retail & E-Commerce

Others ( Automotive, Education, Energy & Utilities, Government, And Oil & Gas)

Regional & Country Analysis North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa

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Brandessence market research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Our research reports are available in a wide range of industry verticals including aviation, food & beverage, healthcare, ICT, Construction, Chemicals and lot more. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations and Ph.D. Students. We have a delivery center in Pune, India and our sales office is in London.

Contact us at: +44-2038074155 or mail us at sales@industrystatsreport.com

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Significant Impact of COVID-19 on E-Commerce Packaging in the Materials and Packaging Industry | Data Bridge Market Research

COVID-19 Impact on E-Commerce Packaging in the Materials and Packaging Industry

In the e-commerce packaging industry, each dealer has predicted the crises that will occur due to the pandemic situations that the COVID-19 is generating globally in the e-commerce packaging market but COVID-19 has the mixed pattern situation for the e-commerce packaging companies in developing countries. The jumbled situation can be examined as we can see the demand for medicine, packaging food, raw food and other essential items has been increased dramatically. At the same time, the demand for other goods that are not used on a more frequent basis has decreased as a result of lock-ups in the various regions. For the product ranges sold by manufacturers / dealers, the effect of COVID-19 on the e-commerce packaging firms can be seen.

For instance,

·         More than 40% of the selling of plastic boxes is attributed to the packaging and transfer of items from one location to another as demand for grooming products, medicines and medical devices has been increased in COVID-19

·         Specific forms of packaging such as plastics and paper & paperboard are often commonly used to bundle e-commerce orders that raise e-commerce packaging demand. There is also the growing competition for packaging of grocery products and other consumer goods such as foods, eggs, cheese and frozen meals and vegetables

·         Reduced e-commerce order demand as a result of stay-at-home rules has shut down the production of products that are not deemed necessary, such as clothing and footwear, household and appliances, and electrical objects

Throughout the e-commerce packaging industry, cardboard boxes are progressively favoured because they give shipping goods security. The combination of rigidity and cushioning qualities makes them solid during transportation and movement to bring effect.

IMPACT OF COVID-19 ON E-COMMERCE PACKAGING INDUSTRY

Plastic boxes remain one of the fastest-growing packaging materials through 2027. Plastic boxes are available in a variety of shapes and can be printed with a range of techniques and also can be customized according to goods and industry.

COVID-19 adversely impacted the market demand for e-commerce packaging. The global e-commerce packaging industry is taking the requisite steps to tackle the coronavirus pandemic (COVID-19). Crisis arrangements have been applied to continue satisfying your e-commerce packaging needs. The firms, with the help of their workers, are trying to maintain the health and well-being of workers in manufacturing plants, ensuring a safe and effective workplace. E-commerce packaging is growing globally and e-commerce arose as the most viable choice for the broad population to buy products during the coronavirus pandemic era. E-commerce acceleration is affecting the global demand for e-commerce packaging.

Due to the COVID-19 pandemic, B2B and B2C online sales of physical goods recently experienced a surge in demand in some products. Many companies and customers initially reacted by stockpiling up. Medical supplies including hand sanitizers, disinfectants, and surgical facemasks were stored, as well as essential household items such as toilet paper and non-perishable foods. Businesses faced teleworking and consumers had to communicate and entertain themselves remotely from home. The government of many countries has enforced social distance measures, lockdowns have been implemented, and/or "non-essential" businesses temporarily closed. The result was a surge in online sales of some items, as well as the growing demand for the wide variety of digital services, as many shoppers have recourse to online shopping – either internet or via telephone.

The surge in retail sales in the first two months of 2020 has resulted in a year-to-year rise in e-commerce packaging spending between January and February 2019, generating enormous competition for secure packaging and protecting packaging (such as stretch tape, and pallets). Modern corrugated cardboard boxes, compact corporate covered pouches, and protective inner wrapping, for instance, benefitted greatly from increased e-commerce packaging spending.

Even large e-commerce lagard segments such as online meal kits (namely blue apron) are experiencing a revival and generating urgent packaging demands for cardboard boxes and enclosed packaging products of higher quality. The online grocery segment, comprising primarily of delivery services such as Amazon Fresh also including meal kits, reported a 400 percent rise in revenue related to the same time in 2019.

Because of COVID-19, people do not buy products offline that are in unhygienic conditions as a result of which increased the online demand of essential items from the different online dealers which derives the e-commerce packaging products.

IMPACT ON E-COMMERCE PACKAGING

Today, the spread of the novel coronavirus has triggered significant market damage across the globe. Most of the businesses have stopped immediately and the effect on e-commerce packaging of the coronavirus pandemic is not yet clear. The towns are closed down, and social distancing has become a modern norm. Customers spend online to satisfy their everyday needs, resulting in an increase of 50 per cent in retail purchases and an increase of 8 per cent of online shoppers.

The COVID-19 pandemic will remain for forever and with that initial effect, it changes the online industry. We should find that e-commerce packaging poses a threat to the retail market and its services offered. Families sit at home and orders their needs online such as food shopping, clothing shopping, and other entertaining movies. It shows that the customers will not be comfortable following the old shopping habits because of the fear of becoming sick.  

STRATEGIC INITIATIVES DURING COVID-19

·         It has been a tough time for major e-commerce retailers as Amazon too. The business has started distribution in selected locations, and is focusing on first fulfilling current orders and buying critical goods using prepaid methods in India

·         International Paper is a manufacturer of recycled fibre-based packaging goods that contributed two million corrugated boxes and films to COVID-19 for help. The firm has raised the market for food help packaging items because of the COVID-19 pandemic

·         E-commerce packaging gateway discusses some of the main problems confronting the industry as a consequence of the COVID-19 coronavirus pandemic, including the impact of self-isolation laws, businesses switching from China to sourcing and reconsidering products used in packaging

·         Food and milk were pursued immediately and while fulfillment remains a task, several players jumped into it by switching from offline to online as well as new players with proven skills jumping into the fray. The concept of important goods kept evolving, as did the product mix for most of the sports

Through adopting different strategies such as growing manufacturing efficiency, new product launches, product distribution, the manufacturers seeks to achieve optimal market development. The exponential growth of e-commerce packaging in sectors such as healthcare, food and beverage, and others is projected to provide attractive prospects for key market players. This is anticipated that variables such as the locations for distribution and sales can help boost the overall position of the business. Small domestic players and especially emerging players in developed countries are likely to obtain opportunities to position themselves in the marketplace.

CONCLUSION

One of the main things we expect from COVID-19 is to see the offspring distributed into more bins. Over-reliance on a single successful nation or country may lead to launch for shortages weeks out. Major failures and competitive risk occur in between just one or two customers as enterprises adjust their activities. Ultra lean running may keep costs down, but where major delays are experienced, there is a chance of sales loss.

Customers are trying their best to respond to difficult conditions and thereby change their behavior. You have faced almost the same confusion as a company owner when seeking to meet your and your customers' needs. Your approach to the ever-changing situation will vary based upon the business and audience. Your reaction to the continually evolving situation will change. You know your clients better than anybody else. We hope you will appreciate some of the reasons why their behavior varies so you can keep representing them in the best way.

Due to the COVID-19 situation, most of the retail stores also preferred online delivery services they received as ordered from customers on call and got delivered the required products including packaging products.

In the lockdown situation, the consumer prefers to buy online products as compared with offline. Because it's convenient for the consumers as well as buyers. The COVID-19 helps to boost the order from the e-commerce packaging industry. The e-commerce packaging required a specific packaging that is used to protect from various damages and also helps in the transportation of the products from one place to another place.

The retailers are also focused on getting products easily and safely delivered to consumers in the first attempt. They are using different types of packaging materials which provides support to carry and are also useful for the safe delivery.

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Kenya Freight Forwarding Market Outlook to 2023: Ken Research Buy Now The report titled "Kenya Freight Forwarding Market Outlook to 2023 – By Sea, Land, Air, Rail and Pipeline Freight; International and Domestic Freight, Integrated and Contract Logistics Freight Forwarding…