The COVID-19 pandemic has drastically changed our lives, our habits and the business market. Many people are staying at home and maintaining social distance. This has affected our daily activities as well as what we purchase.
The effect on business is undeniable — some industries have grown, while others have experienced devastating losses. But how has the crisis affected e-commerce, and what are the best strategies for e-commerce companies to overcome it?
The Fastest Growing And Declining E-Commerce Product Categories
Consumers’ behavior and needs have changed. They are preferring certain products and services over others, and many are giving up nonessential goods. Some companies have had to shut down, but many e-commerce businesses have remained active.
A data analysis conducted by a retail intelligence and software company shows that sales of some e-commerce products are skyrocketing while others have taken a nosedive.
Among the top product categories that are seeing a surge in demand are disposable gloves, bread machines, cough and cold medicine, dishwashing supplies, packaged foods, weight training equipment, pet food, vitamins and toilet paper. The fastest declining product categories include luggage and suitcases, clothes and shoes, swimwear, gym bags, cameras and party and event supplies.