The pandemic, no doubt, induced a boom in e-commerce, the online shopping approach is growing at a great speed. The shift towards the digital world has the absolute potential of becoming permanent. Why? It’s because of the convenience and flexibility it offers to the consumers. E-commerce was performing well pre-COVID too but all of a sudden it got a massive push ahead, starting from the year 2020. With all the essential categories being available online, consumers shifted to online purchasing.
The changing consumer behaviour and new purchasing habits are making the businesses adapt to the new normal. Every business model is strategizing to build a strong online presence by the customer’s needs. The customers well versed in the digital world are shopping more and more. With the virus lingering around with its uncertainties, it is making new customers move to virtual shopping platforms as well. New online businesses are entering the market every day. As more and more people become digitally aware, the shift is bound to happen. So, the answer to ‘Will E-commerce continue to make a surge?’ is a big Yes.
WHAT IS THE TERTIARY SECTOR?
Out of the 3-sector theory, tertiary comes at the last. The tertiary sector doesn’t produce products but offers services hence, known as the service sector. Services like transportation, finance and real estate, information-communication, etc., form the tertiary sector. Without the service sector, the production process won’t be complete. The most vital pillar of the tertiary sector is transportation. How would the raw products reach the primary and secondary sectors? Or, how would the finished goods reach the customers? The answer lies here. The transportation sector contributes approximately 6.3% to India’s GDP single-handedly. The rapid growth of the economy means the rise in need of better transportation services for a smooth flow of goods and services.
Let’s take a look at how e-commerce and the most essential part of the tertiary sector, transportation, are strongly linked together.
E-COMMERCE AND THE DELIVERY SERVICES
Let’s say as an avid user of online shopping platforms, we place an order. Now what? How will it reach us? Fairly, any e-commerce business needs a strong link of transportation services to deliver a product to its customers. The increasing use of digital platforms increases the delivery of services and goods. Very efficiently, an increase in delivery boosts the transportation sector. With the change in consumer behaviour and the rise in consumer expectations, things have progressed.
The evolution of technology and e-commerce means providing a wide range of options to consumers. The days are gone when customers were okay waiting for a product for 8-10 days. The shopping sites have catered to the needs of consumers and offer 1-day delivery services as well. The delivery services ought to be quick. The addition of categories like groceries or medical services has raised customer expectations. With this sudden surge, the demand for transportation services is rising. The replacement of brick-and-mortar stores with online stores can soon create an upsurge in the tertiary sector.
ADVERTISING BUILDS E-COMMERCE
Advertising is another essential pillar of the commercial or the tertiary sector. Without it, the information won’t reach the target consumers. The world has seen rapid digitalization and the shift of businesses to online platforms. The Indian advertising industry is expected to stand at a whopping 700 billion INR this year. Customers are digitally aware and informed more than ever. The sellers use google ads to target their customers which in turn attract the consumer’s attention. Technology is a boon, there’s no denying the fact. With social media usage rising as well, the sellers are using the platforms to add value to their products.
1. Digital brand partnerships,
2. Small businesses on digital platforms,
3. Collaboration with strongly optimized search engines, etc.,
help the retailers build a strong online presence and leave behind a great impression which in turn attracts traffic. With everything right in your hand and a click away, it’s inevitable for the consumers to shift to e-commerce. The convenience factor of e-commerce leads to the growth of the advertising industry.
E-commerce is single-handedly triggering positive growth in the tertiary sector. The impact of it with increasing consumer awareness will be long lasting for sure.
E-commerce skyrocketed in the last 2 years. Retail employment might suffer a great blow because e-commerce was what everyone thought of. On the contrary, it generated a lot of employment in different areas. Consumers enjoy the availability of choices and convenience of shopping. These are the reasons for consumers moving rapidly towards the digital world. With so much demand and a rise in expectations, an army of workers is also required. Workers ranging from marketing, designing, consumer service, delivery services, etc., ensure smooth functioning. The pandemic opened a portal of new job openings and hiring.
• E-commerce refers to electronic commerce which requires the help of the software and tech industry. The IT and tech industries are growing, especially after the rise of the new digital age.
• E-businesses need content that brings their customers to them. The world of content creation has seen an upsurge since the pandemic. Influencers, writers, video makers, photographers, graphic designers, etc., have been in great demand since the pandemic. Art and creativity is the need of time and the industry is flourishing.
• E-commerce made people start their businesses and enter entrepreneurship due to the lack of jobs. It served as a boon and continues to provide a lot of opportunities.
• The increasing delivery needs for every sort of product is raising the demand for the transportation sector. Delivery ranging from 1-3 business days to 1-day delivery is possible because of faster networks. Consumers have a lot of choices in delivery and payment options now, triggering the growth of the industries.
E-commerce is helping entrepreneurs build new businesses and already existing businesses to expand. The digital giants have attracted more customers and are making their brand presence stronger than ever. With e-commerce rising, the brands are bound to provide great services and build a positive impact. This tactic helps them gain consumer loyalty. The digital age can make or break your reputation. Consumers are free to leave negative reviews too or use social media for the same. This is what makes e-commerce the best. It goes both ways; consumers have plenty of options to choose from and the sellers are working to cater to their customers.
The e-commerce market is ever-expanding and is extensively creating employment. The evolution is making the employees thrive in a climate they were never offered before. Every sort of job is open now, even something you might not have ever heard of pre-COVID. The transportation sector has become an essential part of e-commerce. Nothing will work without the service sector. The digital market is tackling the problem of a lack of jobs after the pandemic. It’s safe to say that the E-commerce sector has had a positive impact on the growth of the tertiary sector and employment.