E-commerce now Big Commerce: E-commerce Industry and Consumer Internet Sector & its Effect on the World Today

Abstract

Abstract: The Covid19 pandemic has made a huge impact on the ecommerce industry. The industry has experienced some benefits and problems during the pandemic. People tend to buy more items online as it can be more secure when it comes to the spread of disease. The repocommerce industry is having an increased sales growth. Many methods and techniques are being used by the e rts are saying that overall ecommerce industry to make Covid19 pandemic. This sup the negative impacts that happened to online business during the study is done to deeply analyse the problems and factors that are affecting the Online businesses and to know about the situations of ecommerce business in different parts of the world.The COVID-19 pandemic has had a significant impact on the Indian economy, which saw one of the largest lockdowns globally. The Indian internet economy, which was one of the most attractive markets worldwide, saw a 90% decline in April 2020, crippled by the shutdowns.1The decline was a result of steep falls in business for e-commerce and travel, the largest sectors in the internet ecosystem. However, the pandemic helped accelerate growth for segments such as hyperlocal delivery, edtech, healthtechand online payments as Indian consumers moved online to fulfil their daily needs. Despite a steep GMV fall in the initial months of the lockdown, India’s internet economy is likely to be a net beneficiary in longer run, driven by multi-fold increase in digital interactions and adoption of digital platforms. The number of first time online users has witnessed an increase across segments, along with an increase in online activity from tier 2 and tier 3 cities, which indicates a strong opportunity for enterprises and start-ups to cater to these cohorts digitally as the new normal. What is also expected to drive growth for digitally native start-ups is rising adoption by small and medium businesses in the country. Small merchants across cities are now adopting mobile channels, implementing online payments and exploring collaborations with technologydriven start-ups. Keywords: Ecommerce, Eshops, Covid19, Lockdowns, etc.