A new report published on Thursday by Mexico‘s association of online sales AMVO, shows that consumption habits are likely to shift after the Covid-19 pandemic. According to a survey with 105 of its associated companies, conducted between March 23rd and 27th, i.e. the beginning of the auto-isolation measures in the country, travel, furniture and home accessories, and fashion were the most affected e-commerce categories.
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The chart below (in Spanish), shows companies’ answers about the impact of the new coronavirus: while these already mentioned segments saw their sales drop 25% or more in a matter of days; multi-category, electronics, food and beverage merchants saw sales take the opposite direction.
As expected, small businesses and startups were the ones that reported the greatest impact and worst perspective on the effects of the pandemic. While most of them expect a reduction of more than 25% in turnover, large companies manage to dilute the impact and grow in some way.
The main financial impacts reported were the dollar’s surge, and a reduction in marketing investments. At the operational level, the negative effects were mainly the interruption of promotions, and a sudden drop in demand.
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A new report, with a new round of interviews on the impact of the pandemic in Mexico, is due to be released by AMVO next April 23rd. In general, however, what experts have emphasized so far is that retail companies need to carefully monitor its consumers behavior, opening up direct and frank communication channels, and redoing their planning in order to understand the new consumption habits that are emerging.
Based on online consumer behavior in the face of other pandemics, the consultancy firm Nielsen has created a flow that describes changing habits as the contagion curve increases:
