COVID-19 changes global buying trends | Blink Signs

COVID-19 has certainly affected consumer shopping behaviors. As we are now entering the second quarter of 2020, we will continue to observe several changes in sourcing trends and shopping patterns. This is precisely due to the fact that the situation continues to evolve at an incredible pace and it’s hard to understand shifts in shopping habits.

However, the current situation is likely to prevail for a couple of months to come. As consumers in the US are settling into a “temporary normal,” we will observe an increase in the shopping of food items while sales of products that offer protection against the virus such as hand sanitizers and masks will experience an unexpected boost. Health & Wellness products will remain on the top as big and small companies will have to take all the preemptive measures to ensure customer protection and employee protection. Though, this might be considered a short-term trend, some experts believe that the changes are here to stay even after the crisis is over.

The Impact of COVID-19 on E-Commerce

The eCommerce businesses are also going through unique challenges such as surges in orders of peculiar items and disruptions in logistics and supply chains. With more than half of the world currently under lockdown and curfew, online sales have naturally increased which has further led to an increased demand for warehouse services to handle logistics collection, and a need for direct distribution to fast-track delivery for hard-hit areas.

E-Commerce businesses selling fashion products will experience an unprecedented decrease in sales. After all, who’s buying a new outfit just to stay in the house? Clothing and other luxury item-based businesses will face severe challenges as consumers are delaying purchases of non-essential goods and we are likely to see several retailers close their shutters.

So which products are the ‘winners’ in the current situation? Topping the list is hand sanitizer and that for obvious reasons. The World Health Organization has instructed people to sanitize their hands after short intervals. Similarly, a significant increase has also been observed in the demand for disinfectants and surface cleaners.

The Impact of COVID-19 on B2B Buyer Behavior

As end consumers have changed their buying priorities during the COVID-19 pandemic, we have also observed business buyers altering their buying patterns accordingly. Every purchase revolves around COVID-19. As governments have issued SOPs for factories, B2B offshore sourcing companies have observed an increase in demand for face masks, sneeze guards/barrier shields to ensure the health and well-being of their workforce.

Currently, the United States is facing a severe shortage of Personal Protection Equipment, commonly referred to as PPE. Organizations that employ essential workers such as cashiers, security guards, and all other essential staff will have to procure sneeze guards/barrier shields, disinfectant tunnels, and PPE as it may be now required by law.

There is no debate in saying that the COVID-19 related products will continue to influence the second quarter of 2020. As the pandemic continues to haunt the global economy, we expect sourcing for the food and health category to continue an upward trajectory.

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