It goes without saying that COVID 19 will be one of the defining events of 2020 and that its effects may last for years to come.
The situation is rapidly evolving. Film theaters, restaurants, gyms, and bars in urban places have shut down, and at the same time, many workers must adapt to the challenges of working at home full time. Nonessential businesses have been forced to close, and customers now avoid public spaces like shopping malls and markets.
While the pandemic has had a devastating effect on brick-and-mortar retail stores, its impact has reached e-commerce as well, with consumers limiting their shopping to all but the most critical items. This post will provide tips on the best product choices for your brand during this period of uncertainty. The advice shared here is based on factual data gathered from observations on consumer behaviors and buying patterns
Personal protective equipment (PPE)
The world’s market for personal protective equipment is expected to grow to 85.72 billion by 2026, with a compound annual growth rate of 7.3% over the forecast period. This spike in demand has been driven by the exponential increase in COVID-19 cases across the world. The crisis has increased the need to face masks, N95 respirators, and medical clothing since they are needed to protect frontline health workers from infection.
While many of the PPE shortages experienced across the world occurred due to manufacturing disruptions caused by Chinese lockdowns, the country’s manufacturing capacity has stabilized, and there have been improvements in PPE supply.
That said, there are still several short-term and long-term market challenges caused by limited raw materials and transport restrictions. The resulting shortages have further driven demand in both high and low-income industries. These factors make PPE products such as face masks, face shields, sanitizer, and protective glasses a viable investment opportunity.
Home fitness equipment
In the past few months, most fitness centers and gyms have closed to halt the coronavirus pandemic’s spread. This has led to an enormous demand for home fitness equipment such as treadmills, exercise bikes, Ab rollers, Resistance bands, and yoga mats. The increase in demand has led to a dramatic increase in online sales.
There has also been a growth in demand for smart exercise equipment and online fitness programs as consumers seek to recreate the gym experience. Home fitness has been a part of modern society for decades. However, due to the coronavirus pandemic, it has taken on an even more significant role.
With gyms closed and public gatherings prohibited in many countries, fitness instructors have moved online, and yoga classes have migrated to zoom. Between January and march in the United States, for instance, home fitness equipment sales increased by over 50%.
In fact, fitness is such a priority among consumers that some gyms have resorted to renting out their equipment. Although it is unclear whether the trend will persist beyond the coronavirus outbreak, recent spikes in infections across the United States and other countries, combined with government decisions to halt the lifting of lockdown restrictions are likely to keep demand up for the foreseeable future.
Video Games and related products
Keeping kids entertained all day can be frustrating, especially when parents have work to do. The good news is that the gaming industry has never been as diverse and sophisticated as it is now.
There is something for children of all ages, and adults too. Since they are an ideal way to keep bored minds busy and idle fingers occupied, games and gaming accessories have enjoyed a remarkable increase in demand amid the COVID-19 pandemic.
The games industry will probably be more resilient to the disruption caused by the COVID pandemic than the television and film industry because games can be made by remote teams, with little need for the large sets synonymous with Hollywood movies. Even before the COVID crisis hit, games beat film as the more significant entertainment industry. So, if you’re looking to invest in the entertainment industry, games and associated merchandise are a good choice.
Besides the fact that there are hundreds of popular games you could offer, there is a vast range of gaming consoles, computer setups, and controllers you could use to compliment your sales.
The prominent nature of presidential elections allows e-commerce retailers to take advantage of political themes and win new customers.
As the United States’ presidential elections draw nearer, and political analysts debate who is most likely to win or lose, retailers can benefit from the emerging opportunities.
For e-commerce stores, selling politically themed merchandise to a passionate audience, combined with the surge of media attention candidates receive presents a sizeable opportunity to gain new customers during the election cycle. By offering the candidates’ merchandise and marketing material, you can draw their supporters to your site, and keep them there even after the election passes by making compelling offers. Remember, though, that candidate’s messaging will evolve over time, and your merchandise must reflect these changes.
To capitalize on election season, even more, you should manage your e-commerce store as diligently as you would a physical one. Products that relate to current events in the political news cycle, for instance, should be used as banners to capture attention, allowing you to draw consumers deeper into your site.
Work from home products
Most office-workers have had no choice but to work from home throughout lockdown restrictions. Employees accustomed to commuting to an office each day probably don’t have comfortable home-offices. For such individuals, ergonomic chairs, desks, organized storage, and appropriate tech equipment are now essential.
Another option in this niche you could pursue is video and audio technology. As virtual meetings and video-conferencing grow increasingly popular, many people will invest in better web cameras and audio equipment.
Even after social distancing restrictions are lifted, it is expected that most employers will offer remote-work options, so these products are likely to remain in demand for a long time.
We’re all living through a period of uncertainty. Your customers are doing their best to adapt to unfamiliar times with limited control over their environment, and their spending habits have changed as a result. This trend has affected business as well, but there’s good news.
With the insights provided above, you’re in a better position to capitalize on consumer behavior changes. Chinese manufacturing has stabilized. Hundreds of thousands online sellers are in the mode of “purchase from China, sell to the world”.
Located in the global manufacture hub, Shenzhen, Guangzhou, and the transit hub HongKong, NextSmartShip China fulfillment center will streamline your whole supply chain and reduce your fulfillment budget. Instead of just being a standard 3PL, NextSmartShip China fulfillment center provides end-to-end logistics services to enhance your brand awareness and customer satisfaction. Contact us today for a custom shipping solution that suits your brand.