How Will Covid-19 Impact eCommerce Businesses?

How Covid-19 Will Impact eCommerce Businesses

Over the last 10 days, we’ve been asked how Covid-19 will affect the digital marketing & eCommerce industry countless times. We’ve decided to tie it all up in one article.

First of all, everyone at Epic Media hopes you are all ensuring the upkeep of your health and everyone around you. This truly is a global health crisis and all victims are in Epic Media’s thoughts and prayers.

How Will It Impact eCommerce Businesses?

If you ever need a good example to follow, industry leader Amazon is always a good place to start. They have just this week opened positions to hire 100,000 new personnel in order to keep up with the demand of online orders.

There’s no coincidence that the majority of the country being in isolation means that online shopping figures have gone through the roof, and are going to continue to do so.

The cause of this spike is thanks to boredom, impulse buying and essentials shopping.

With delivery drivers being named as key workers in the UK this week, you need not worry about lack of logistic support!

How Will It Impact Online Marketing Costs? 

Cost per mile (Cost per 1000 eyeballs) on platforms such as Instagram and Facebook are going to dramatically drop.

Why?

What’s happening now on a global scale is companies are spending less on marketing meaning the cost of advertising is dropping dramatically every single day.

It also goes without saying that MORE people are going to be scrolling through such platforms in times of isolation and quarantine.

This combination of lower Cost per mile (CPM) and more eyes on the platforms should be every online business owners dream and something to immediately capitalise on.

The Numbers

Online sales have increased 52% compared with the same time frame a year ago, and the number of online shoppers has increased 8.8% since the coronavirus began.

Below we’ve listed some stats from the week 22nd-29th Feb 2020:

• Masks sales increased 590% from the week prior
• Hand sanitizer sales increased 420% from the week prior
• Clorox/Lysol wipes sales increased 184% from the week prior
• Disinfectants sales increased 178% from the week prior
• Gloves sales increased 151% from the week prior
• Bottled/packaged water sales increased 78% from the week prior
• Vitamins sales increased 78% from the week prior
• Tissues sales increased 43% from the week prior
• Hand soap sales increased 33% from the week prior
• Toilet paper and paper towels sales increased 26% from the week prior

How Can You Capitalise On This Surge?

1. Start Advertising On Social Media

If you haven’t already, there has never been a better time to start advertising on social media.

2. Up Your Daily Ad Spend

If you are currently advertising, up your budget. This will put you head and shoulders above your competitors and ensure you come out on top. We recommend to increase ad spend by a maximum of 50% per day.

3. Change the Tone Of Your Advertising 

It’s always been good marketing practice to leverage off the back of current affairs. This is no different. If you can be seen to provide solutions to some of the problems people are facing during this time, this will be very well received by your customers.

Book a free 15 minute phone consultation with an online marketing expert from Epic Media now for further and more tailored information of how to capitalise on the current climate, please click below.