Amazon eCommerce Revenue Explodes During COVID. What Does This Mean for the Industry?

What does this Amazon eCommerce success mean for the industry?

The short term

Well the obvious positive is that a lot of people running ecommerce websites or ecommerce platforms have been fortunate to see an increase in business during an incredibly hard time to succeed in general. Of course, not all ecommerce stores are winning. Though social distancing and lock down regulations have accelerated the shift of commerce to online channels, they have also driven down the buying power of the average consumer and made more luxurious or frivolous purchases less appealing as people have tightened up their purse strings in times of such uncertainty. Yes, people need their food delivered to them to stay safe and avoid the inconveniences involved in what should be a simple shop, but should they really be splashing out on a new e-bike or a lovely dress right now?

The long term

So people are pinching their pennies during these rainy days, and understandably so, but all the while they are becoming more accustomed to being an online consumer. This includes people who were already confident but maybe less habitual and those who never shopped online before but have now been introduced to and have warmed up to it.

It’s no revelation to say that the ecommerce industry was already on an strong upwards trajectory and is clearly the way of the future, statistics on that trend have been clear for a long time. Technology will make it easier and cheaper for everyone by making the buying process simpler and making the logistics aspect smoother, mostly through automation and job thieving robots. COVID has taken that curve and cranked it to the sky though and needless to say, now is a good time to be honing your skills, building your portfolio and shifting products as best you can because competition is on the rise.

As people have been forced out of work, many have looked to the internet to make money online and ecommerce jobs are an obvious route to take considering all that I have mentioned before. The service industry isn’t doing so great so lead gen isn’t so hot and good luck to anyone who gets caught up in the course selling market.

As with all professions that become flooded with wannabes, it can be hard to stand out. And standing out, especially as a professional, will be essential as it inevitably becomes a race to the bottom as the new comers are climbing over each other to get a foot on the ladder.