Dixya Poudel

While the economy is seeing downturns in most sectors, e-commerce is thriving in this time of pandemic. E-commerce signifies the buying or selling of goods or services through the online platforms and the consequent transactions of data and money on the internet. Even before the pandemic, there was a hefty growth on e-commerce which is now seeing profits on an immense scale.
As social distancing is requisite to curb the coronavirus, people are relying on online shops to procure requirements. In Kathmandu, the digital sales has seen a 63 per cent increase. Likewise, throughout the world, online retail stores such as Amazon and eBay are seeing a steep rise in sales. Closer to home in Nepal, people are buying goods online through websites such as Sastodeal, Hamrobazar and so on. The social media feeds are overflowing with advertisements on online shopping sites. With attractive offers and alluring advertising acumen, such sites see a large traffic that results in profitable sales. More and more stores are being digitalised and one can buy varied choices of goods through different online stores. This frenzy of online shopping has led to various employment opportunities as well.
Businesses are hiring in posts such as online marketing along with packaging, delivery and logistics in the warehouse departments. This is welcome news given that the economy is suffering due to the pandemic. And thanks to the rise in technology such as mobile phones, buyers have taken to online shopping in droves. It is further predicted that the digital buyers will reach up to 2.41 billion globally by 2021. This worldwide rise of online shopping can be credited to Amazon which was founded in 1994 and has since become the world's largest online retail store. During the second fiscal quarter of 2020, Amazon has reported revenue of $88.9 billion. While its North American sales have reached $55.4 billion, the international sales have exceeded $22.7 billion. The company's quarterly profit of $5.2 billion in 2020 is the highest ever recorded in its history of 26 years. Thus, Amazon has clearly benefitted even as there is a general outcry over the increasing cases of virus infections in its employers.
The allure of online shopping lies in the ease of access through mobile phones, tablets and computers. With a couple of clicks, the buyers can easily secure their transactions. They can also take their time in selecting their choices of goods through websites which offer a wide range of options. And today online shops sell not just clothes and cosmetics but also grocery items, books, music, movies, electronic gadgets, etc.
The keys to success in e-commerce are product and brand innovation along with a stress on sustainability and accessible customer transactions. Today most businesses have an online presence that uses the digital platform to carry out online marketing and sales activities. Through e-commerce, businesses are helping both the buyers and the sellers face the challenges of the current crisis. With the advancement in internet, more and more people spend a bulk of their time in virtual media. And to succeed in today's world means to be better and smarter about technology. Thus the e-commerce is an extraordinary example of the ingenious and innovative way that keeps sustaining the current world, especially during these difficult times.