Businesses are opting in for specialized platforms to transition to digital
Trend - As many non-essential businesses remain closed during COVID-19 lockdown orders, owners turn to digital platforms in order to seamlessly transition the brick-and-mortar experience to the online environment. These platforms are made with small and mid-sized businesses in mind, boasting lucrative features such as customer reach and more efficient payment processes.
Insight - Aware of the economic toll of this pandemic, individuals are placing emphasis on shopping local and independent as a means to support a diverse community of retailers that is currently struggling. Still prioritizing convenience in this space, conscious consumers are looking for streamlined options that will allow them to shop goods from small and mid-sized businesses with the same efficiency and comfort that big-brand e-commerce grants them.
Insight - Aware of the economic toll of this pandemic, individuals are placing emphasis on shopping local and independent as a means to support a diverse community of retailers that is currently struggling. Still prioritizing convenience in this space, conscious consumers are looking for streamlined options that will allow them to shop goods from small and mid-sized businesses with the same efficiency and comfort that big-brand e-commerce grants them.
Workshop Question - How might you adapt your brick-and-mortar service/product to the online environment?
Trend Themes
1. E-commerce Adaptation - From specialized platforms to shopping apps and transitional programs, businesses are pivoting towards efficient e-commerce adaptations amid the COVID-19 pandemic.
2. Local and Small Business Support - Consumers' shift towards consciously shopping local and independent is driving trends in e-commerce adaptations that support small and mid-sized businesses.
3. Assistive E-commerce Apps - The increased usage of assistive apps for e-commerce has created lucrative opportunities for streamlining the customer experience even during these uncertain times.
Industry Implications
1. E-commerce Platforms - E-commerce platforms like eBay, Google, and Lightspeed are leading the way in the immediate future of small business adaptation.
2. Mobile App Development - With Builder.ai's Studio Store apps, lead developers are creating new solutions that will enable small and mid-sized businesses to pivot towards efficient online business operations.
3. Payment Processors - Payment processors like PayPal are partnering with e-commerce platforms to develop more efficient and seamless payment processes for consumers.
