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The Coronavirus’ Effect on the E-Commerce & Internet Business, Business and Industry Trends Analysis

The Coronavirus pandemic has accelerated ecommerce and internet usage exponentially.  A 2020 McKinsey & Co. survey found that the adoption rate of ecommerce habits that was previously expected to occur over years collapsed into a period of months.
The Coronavirus gave an immense growth spurt to ecommerce on a worldwide basis.  As people changed the way they live and work, retailers had to adapt at an emergency-induced pace.  Ecommerce, already on the rise before the pandemic, reached levels never seen before.  Home delivery of meals and groceries have become extremely popular, while online ordering with curbside pickup is also popular at supermarkets.  Delivery firms such as Instacart, Uber Eats, Shipt and Grubhub have benefitted tremendously.
Today, retailers have seen a significant rebound in in-person shopping.  Nonetheless, retail stores have evolved due to Coronavirus-driven habits.  In some cases, employees are shifting from waiting on customers to fulfilling online orders and running items outside for curbside pickup.  Elsewhere, store employees are being trained to build relationships with online customers via chat—making merchandise suggestions and boosting online orders.
Many well-known firms are illustrative of the boost that the Coronavirus gave to the ecommerce and internet sector., for example, saw phenomenal growth in revenue.  Other noteworthy companies enjoying soaring growth during the Coronavirus’ worst months included Netflix and Zoom.
Virtually every type of product or service related to or supportive of ecommerce and the internet boomed as well.  Online banking and investment services soared.  So did online communications, including chat and video.  Online video enabled booming use of remote conversations with doctors via telemedicine.  However, some online businesses suffered extreme drops in revenues as a result of the Coronavirus—particularly those that sold reservations or tickets for travel, hotels and live entertainment events.

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