The Digital payments firms have witnessed a decline in their transaction volumes, for instance, much of the online services including e-commerce, retail and travel have been suspended during the ongoing lockdown to loop control the spread of the coronavirus disease. There has been uncertainty regarding the lifting of the lockdown so it has become difficult for the companies to completely assess the impact of this on the digital transactions in the months to come.
Mr. Sanjay Doshi, head at financial services advisory, KPMG India said in a statement regarding Ecommerce news India, “The immediate effect of the lockdown on the digital payments was negative. Most of the online services such as e-commerce, travel (ticketing and hotel bookings) have not been working as of now. E-commerce, clothing, movie and entertainment bookings, as well as home décor sales, have had a contribution of the largest share, over 40% of the total online payment universe. At the same time, in the smaller towns where online payments had started to grow, it will also take a hit as the people will avoid any kind of unnecessary spending."
With so much lesser demand, online food delivery staff are faced with a lot of difficulty in Delhi due to the lockdown in the wake of the coronavirus disease. When asked regarding Ecommerce news India, Naveen Sharma, one of the food delivery boys said, "The Demand is very less. We are not able to meet our targets even though we are working 16 to 17 hours a day."
Another food delivery boy, Pawan Kumar said, "I have been doing this for about six months now. The demand has been less from our customers and they mostly prefer vegetarian food and want no-contact delivery." He further added that they are taking all the necessary precautions at their end. "We sanitize our hands before we go for the food delivery," he said.
PM Narendra Modi had announced a 21-day lockdown as a measure to contain the spread of the coronavirus disease. This has taken a hit on the online services according to the latest Ecommerce news India.
After Bigbasket and Spencer's Retail, Uber has partnered with Flipkart to provide access to every day essential items in the cities of Bengaluru, Mumbai, and Delhi while the ongoing nationwide lockdown.
During the last week, Uber said, that the two-wheelers (UberMoto) and the four-wheelers (UberGo and UberXL) and their network of drivers on their platform will help them to carry out the delivery of essential items safely to the consumers' homes.
Mr. Prabhjeet Singh, Uber India, and South Asia Director-Operations and Head of Cities said in a statement regarding Ecommerce news India that, "We are now pleased to announce our partnership with Flipkart to further expand our new delivery service. The partnership will help in keeping the economy running and will enable the customers to stay at home and follow the guidelines of the government for controlling the spread of COVID-19, while also creating earning opportunities for the drivers,"
The several Startups in the consumer categories including fashion, beauty, and furniture are currently facing a slump in the demands. This is because consumers have to stop any discretionary spending in wake of the ongoing nationwide lockdown which has resulted in the disruption of their operations.
As per the latest Ecommerce news India, the 21-day lockdown in India to contain the spread of the novel coronavirus has upset the supply chains of e-commerce and several other firms that have slowly started to resume their normal business. On most of the online platforms, only the essential commodities including the groceries and medicines are being sold currently.
Mr Mohanjit Jolly, partner at Iron Pillar, a technology-focused venture capital fund said in a statement regarding Ecommerce news India, “With the entire country under lockdown and business getting impacted, the startups need to pray for the best, but also plan for the worst." He further added, “Assume that the fiscal Q1 revenue is zero, with a very slow rise in the rest of the year. I would not say that the business is returning to normal in even the next 12 months."
With almost no activity in the non-essential categories of products, most of the e-tailers and several digital-first brands are now trying to keep their customers engaged by entertaining them with fitness activities, web series, and other online entertainment activities.
The online ticketing platform, BookMyShow has created a home entertainment series in categories like live music, comedy, and poetry that has been watched by over four lakh viewers. The Poetry and storytelling sessions on BookMyShow will keep its users engaged through their social media.
Albert Almeida, COO, live entertainment, BookMyShow, said in a statement regarding Ecommerce news India, “These are challenging times all over the world and we have to find new ways to cope with this new normal and socially distance ourselves to help contain the coronavirus pandemic. We at BookMyShow want to bring a similar kind of experience for our consumers during this period of lockdown and social distancing, by offering specially curated series of at-home entertainment,”
E-commerce companies are now collaborating with several social media influencers, to tap their following in order to keep their brand relevant. The Flipkart-owned Myntra has been offering an online fashion reality show judged by the popular Bollywood actor Sonakshi Sinha and the celebrity stylist ShaleenaNathani. They have recently launched a celebrity masterclass to bring video sessions on the top styling and fashion tips to their customers.
A spokesperson from Myntra said regarding the latest Ecommerce news India, “Fashion is an engagement-oriented segment and hence it is important to create new ways to allow us to interact more frequently with our users.”
Talking about Flipkart, the company has brought movies and games to increase user engagement. Under the Flipkart Video, the company has movies and shows. A Flipkart spokesperson said in a statement regarding Ecommerce news India, “The users can also find some inspiration under the 'Ideas' section, such as cooking at home, DIY craft ideas, fashion and styling tips, staying fit videos and many more. For game lovers, we have curated a dedicated Game Zone where they can play a variety of games and quizzes.”
Other smaller brands like The Moms Co, Man Company are also trying their best to engage the users with their social media campaigns. Mom Co is an FMCG brand that supplies organic skincare products for mothers and babies. During this lockdown, they are also sharing their tips on how to deal with the kids at home.
Ms. MalikaSadani, founder-CEO, The Moms Co., said in a statement regarding Ecommerce news India, “This led us to start the #21DaysOfBonding campaign on social media platforms including Facebook and Instagram. We've been sharing some interesting ideas on how to utilize this time at home to bond with your kids."
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