Study on Impact of COVID-19 on Consumer Behavior and E-commerce Adoption in India
DOI:
https://doi.org/10.53573/rhimrj.2024.v11n6.003Keywords:
COVID-19, Alienation E-commerce, Cybersecurity, Transformation, Penetration, Lockdown, Pandemics and DigitizationAbstract
In this research paper, I have thoroughly described about the topic “Study on Impact of COVID-19 on Consumer Behavior and E-commerce Adoption in India.” In India, the COVID-19 epidemic has changed customer behavior and spurred unprecedented e-commerce adoption. Lockdowns and social alienation have led people to shop online, upending retail standards. Online sales of essentials and consumables, digital payment methods, and contactless delivery are all signs of this transformation. Businesses have had to boost their digital presence and optimize e-commerce operations to fulfill customer expectations and stay competitive because of pandemic limits. Thus, the Indian e-commerce sector has grown rapidly, with existing and new businesses competing for market share. Despite the bright potential, several obstacles remain. Cybersecurity, logistics, and the need for strong regulatory frameworks to protect consumers and promote fair competition are major impediments. COVID-19's lasting influence on consumer behavior and e-commerce adoption highlights the need for companies to embrace digital transformation and innovation to prosper post-pandemic. The digital era has made e-commerce, the buying and selling of products and services, and the interchange of money and data, essential. E-commerce, which can be business-to-business (B2B), business-to-consumer (B2C), business-to-government (B2G), consumer-to-consumer (C2C), or mobile commerce (m-commerce), has transformed commerce by enabling seamless customer interactions. Data shows COVID-19 affects Indian customer behavior. McKinsey & Company found that online retail penetration in India rose from 8% in 2019 to 23% in 2020, a 15-percentage point rise. According to Statista, the Indian e-commerce industry grew 36% in 2020 to $64.8 billion. Online food sales increased 1.7x during the pandemic lockdown, demonstrating a shift toward online necessary purchases. The Reserve Bank of India reports a considerable increase in digital payment volumes from 3.45 billion to 4.73 billion from December 2019 to December 2020. Finally, COVID-19 has changed customer behavior and increased Indian e-commerce. Pandemics indicate retailers must adapt, innovate, and embrace digitization to succeed.
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