The COVID-19 pandemic, has disrupted the way we carry out some of our activities before its emergence. One of such the way we make purchases. Before now, many preferred to visit brick and mortar shops and markets to purchase their daily needs, With the advent of COVID-19, however, many have taken to conducting their purchases on e-commerce platforms.
I, recently, had a chat with Ayo Dawodu, Co-Founder, Loystar.co, an e-commerce platform, on Tech Trends show, on Channels Television, where he gave an insight into how COVID-19 has impacted the e-commerce industry and the prospects this experience holds for the industry, as we progress into the future.
CFA: Ayo, glad to have you on the show today.
Ayo: Thanks for having me, CFA.
CFA: So, tell me. How do you think COVID-19 has affected the e-commerce industry?
Ayo: Pre-COVID, before the whole pandemic situation, players in the e-commerce space were trying to sort of get by. They were seeing orders, but it wasn’t as much as we are seeing now. With the COVID situation, it definitely accelerated demand. Due to the lockdown, people could not move around, so, they had no option than to shop online.
One thing we can pick out in terms of digital technology is that, it is accelerating the use of the adoption of technologies. We can claim that as a win, in terms of this entire COVID situation.
CFA: And do you think we were fully prepared for a situation like this, technologically?
Ayo: No. We were not. Like I said, the kind of economy, or the kind of environment we are used to, is a very high touch sort of set up. We like to set up a meeting. You will like to see the person, You will like to look at them. See their face, but with COVID. everyone was forced to go digital. Everyone was forced to go virtual. We were not prepared, but within a space of one month, everyone already saw the new reality and we started adopting tools.
Normally, this would have been, me coming to your studio to set up, but we have to adapt and make use of the best we have. I think its a plus, generally. Yes.
CFA: Now, Ayo, would you say that these are the best of times for the e-commerce industry?
Ayo: I wouldn’t say that these are the best of times. I will rather say that the best days are ahead of us. Some people have seen the convenience of going digital, the convenience of shopping online and I don’t think they will be going back to the grocery store for any little thing they want. They will rather shop online and enjoy that convenience, so, we’re just starting, actually. We’re just scratching the surface and the best days are definitely ahead, I’d say.
You can watch the full interview here