How COVID-19 is Causing Digital Transformation? What to Expect in 2021?
The year 2020 has been a catastrophic year for everyone in the world. Each and every individual, businesses and Government had to face drastic changes and total reset of life. This year totally changed the viewpoint of different things and most importantly it changed the way of business. While the traditional businesses saw a serious hit, the businesses who had adapted digitization boomed which made us realize that digital life is the new normal which is evident from the words digital, online, cloud business, remote working the terms which ruled 2020.
What is Digitalization?
It is simply the adoption of digital technologies to modify a business model. It is a way of enabling, improving and/or transforming business operations/processes by leveraging digital technologies and digitized data, to increase productivity and efficiency while reducing costs. Digitalization is the transformation of business processes from a human-driven event to software-driven thereby solving the traditional problems with technology.
How COVID-19 is Causing Digital Transformation in Business?
We all know that technology and customer behaviour change every few years but this year; it took a dramatic spin. The importance of digitalization in business became crystal clear during the pandemic when everything came to standstill. When the lockdown and restrictions made life more difficult than the COVID-19, people especially the retailers realized the need for digital innovations in running a business.
The global pandemic has triggered the need for having a digital presence such that a sharp spike in online business was recorded all over the world. Suddenly everything became online and everyone wants to be online. People have now accepted the fact that with COVID-19 here to stay for long, to survive the pandemic embracing digital technologies is the only way out and hence eCommerce began to boom like never before during the lockdown alone.
While some decided to develop a digital presence, some adapted latest technologies like AR and VR into their online solutions, and some small home businesses tried their hands on “Social E-Commerce” where they can reach millions of customers via their social network by showing their skills on social media websites like, Facebook, Instagram, Twitter and WhatsApp without spending much on the advertisements and thus increasing the customer base. Now let's see how going digital helps a business to increase its customer base and also improve the overall business presence.
Business Continuity
COVID-19 causes a tremendous loss to offline retailers such that some had to put shutters on their business permanently while those who had an online presence survived. Thus, the deadly pandemic has sparked the need for having an online presence and retailers around the world are now after developing an eCommerce website or a mobile app for their offline store. So, it can be said that coronavirus has pushed the importance of digital solutions in business like never before as it made evident that online presence means business continuity under any circumstances.
On-demand and on-the-go
The Covid crisis made people shop and stock items due to the uncertainty which turned out to be another crisis when offline retailers ended up out-of-stock. While the same happened with online stores too but it survived because of the on-demand and on-the-go advantage. Unlike in traditional shops, with online stores, you can keep customers informed about the product availability, out-of-stock items, re-stocking, etc. and can deliver them on-demand or even send them personalised push notifications if any delay in delivery happens. This has growing the popularity of on-demand multi-niche delivery apps. Due to that, the demand for on-demand multi-niche delivery app is on rising. With mobile users on the rise even more due to the lockdown, digital transformation is a must for any business to survive and keep going today.
Online Transactions
COVID-19 has paved the way to complete digital payments. Due to the fear of catching the virus, cash transactions are still temporarily disabled which may soon become permanent as people are finding digital payment methods more convenient than cash. Hence, while creating an eCommerce mobile app of yours, make sure to include secure multiple payment gateway options to allow your users to shop with their credit cards, debit cards, e-wallets and more.
Personalised, Enhanced, and Safe Shopping Experience
One of the main reasons behind the digital shift happening in business is because of the shopping experience. In order to stay safe from contracting COVID-19, people migrated to online shopping in large numbers during the lockdown as it is safer shopping online than stepping out in the crowd. Apart from safety, the change in consumer behaviour is another reason for digital transformation as the personalized and enhanced shopping experience that one gets via the online platform is nothing compared to the traditional business where customers come to shop and go. Online business is completely customer-centric where their reviews and satisfaction matters the most.
Technology-driven Strategies
In order to give offline-like shopping experience to the customers, many businesses are implementing latest technologies like AR and VR into their eCommerce mobile app which is causing more and more customers to shop online. Thus, COVID-19 is making businesses embrace the latest technologies to give a smooth and enjoyable shopping experience to the customers.
Wide Customer Base
The lockdown made people use their smartphone even more which was already on a high note. Thus, to serve such a mass of people, getting an online presence developed and becoming digitally sound is the only option for any business if they want to stay ahead.
Omnichannel Commerce
Getting an eCommerce website or mobile app developed while running the offline store is also a trend that will continue in the coming years. Retailers do not want to risk losing customers in any way and hence omnichannel commerce is becoming the COVID-19 trend where businesses are blending the physical and the digital to serve their customers better, faster and safer through delivery methods such as curb side pickup and contactless delivery. The mobile app, website, social media, retailers today are making use of all possible channels to serve customers which will boom further.
Summary
Digitalization was breaking out bad all over before the deadly outbreak of coronavirus happened and now with the spread of the virus digital transformation has accelerated even more. Since the crisis proved one thing that how important it is to have an online presence if you too are planning to create an eCommerce app or develop an eCommerce website with latest digital solutions, don't waste time thinking anymore as the time is ripe and right to start now. Approach the best eCommerce solution provider who delivers a customer-centric solution that helps you get the edge over your competitors.
