LYKA: Changing Online Shopping Patterns

Posted by LYKA on July 18th, 2022

The truth is that Covid-19 pandemic that struck the entire world has completely changed how shopping is conducted. Although, the problems have subsided considerably, the number of people resorting to online activities has increased manifolds. The pandemic rather seems to have accelerated a strong shift towards embracing the digital world. Moreover, several changes have been noticed in online shopping behaviors which experts consider to have long-lasting effects.

Digital solutions and e-commerce

Surveys conducted have shown that people nowadays are found to shop online quite frequently. They tend to rely on the web to derive valuable information, for digital entertainment and health-related information. In emerging economies, consumers did make a great shift towards online shopping. The acceleration since the pandemic only seems to have gained speed to accept the digital word. Changes noticed are to have lasting effects with the world economy recovering slowly. Accelerating global online shopping only underscores urgency to ensure seizing opportunities offered with digitization.

Increase in online purchase but fall in consumer spending

Consumers now trust reliable apps like LYKA for shopping purpose. Surveys also revealed that online purchases managed to increase by about 6-10 percentage points in almost all product categories. Electronics/ICT, do-it-yourself/gardening, education, pharmaceuticals, household/furniture products, personal care/cosmetic, etc. are considered to be the major gainers. Taking this opportunity, many new portals and apps have been launched with a vision to offer more number of products to a rapid growing online consumer base.

Online shopper percentage purchasing shopping at least once every two months

The fact is that average monthly online per shopper spending has dropped significantly. In emerging as well as developed markets, consumers postponed their larger expenditures. In emerging economies, consumers are more focused on shopping for essential products. Travel and tour sectors however are the worst hit and experienced the strongest decline. Per shopper online average spending in this sector dropped by about 75%! This is significant reduction. But pharmaceuticals and medicine related sectors saw tremendous growth during this period. LYKA offers a variety of products.

Per month average spending fall per product category since Covid-19

Online consumption habits post-pandemic period has changed dramatically. A good part of the net users tend to purchase essential products like beverages, food, medicines and cosmetics. Online shopping has increased during and post-pandemic times. According to the experts it is here to stay. People can only be noticed to engage in e-commerce. Surveys also revealed that people having tertiary education and women increased their belief in online purchase. A strong increase however, was noticed among the age bracket 25-44.

Permanent changes

The changing patterns among online consumers noticed in recent times are expected to stay. People prefer to shop online while focusing more on essential products. Thus, ecommerce industry is witnessing a major boom and online shopping is being given more emphasis.