From our experience as consumers, the feeling of physically engaging with a new product has always been highly significant. We observe its quality, talk with the salesperson about its features, and move from one display to another to enjoy the variety of options. This entire process before making a purchase is, for the customer, a commercial adventure. Due to the pandemic, in-person sales were abruptly interrupted. Businesses that had started emerging before the virus hit came to a halt, while others declared bankruptcy. The virus forced us to stay home, watching our investments dwindle as days, weeks, and months went by.
The need for a new medium for conducting transactions led merchants to move into the virtual space. As Villar Estrada mentions: “[E-commerce] is the main means for conducting operations to avoid direct contact with consumers” (2020: 22). The main characteristic of e-commerce is that: “we are facing a ‘contract between absent parties.’” In other words, it is not necessary to have the physical and simultaneous presence of the parties. This allows customers to carry out transactions from different physical locations and even at different times (2020: 25). The importance of e-commerce lies in the fact that, in such a critical situation, the growth and economic recovery of countries heavily depend on this model..
At this point, it is essential to consider the situation in some Latin American countries. In Peru, on March 15, 2020, then-President Martín Vizcarra announced the country’s “State of Emergency,” ordering mandatory social isolation starting at 00:00 hours on Monday, March 16. Nationwide, all businesses closed, except those involved in the distribution of essential products. This quarantine lasted approximately three months, until July 1, 2020, during which thousands of businesses declared bankruptcy.
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Entrepreneurs found new spaces to sell their products. Shifting from physical establishments to digital platforms was one of the measures adopted to recover from the economic crisis.. The pandemic brought about a fundamental shift in the perception of e-commerce. Quispe Panca states: “The reason for this increase was the confinement measures due to the pandemic, as e-commerce became the safest way to acquire products and avoid crowds” (2020: 6). Revista Andina highlights the growth of e-commerce in the economic sector. This activity generated US$6 billion in 2020. Before the pandemic, according to the Observatorio E-commerce 2020 report by the Peruvian Chamber of E-Commerce (Capece), 1.5% (65,800) of businesses made sales through this medium. With the appearance of the virus and the measures taken, the number of companies entering this sector quadrupled. By the end of 2020, 5% (over 260,000) had ventured into e-commerce.
In Colombia, according to Hoyos Anaya, many businesses had to transition from in-person commerce to virtual transactions due to the widespread virus. At the beginning of 2020, e-commerce was lagging, according to data from the Colombian Chamber of E-Commerce report. Due to the quarantine imposed on March 25, 2020, this situation changed drastically. The same author reports the results of a PayU study, which showed an increase in online transactions during May and June, with a rise of 49% and 52%, respectively, compared to the previous year (2020: 22).
In Ecuador, especially medium and small businesses, have entered and innovated in what Montalvo Coronel & Orozco Santos call “forced digital disruption” (2020: 354). These authors note that the quarantine, which started on March 19, 2020, paralyzed nearly 70% of economic activities. As a result, the increase in sales occurred in the digital marketing of essential products such as food and medicine (2020: 370).
A similar situation occurred in Chile. According to América Retail, e-commerce revenues surpassed US$9 billion in 2020, based on BlackSip data. The report also indicates that visits to e-commerce sites increased since mid-March, peaking with a 160% growth, surpassing countries like Brazil, Argentina, and Spain. While in 2019, 66% of users in Santiago de Chile made online purchases, in 2020 this number grew to 81%.
This situation in various Latin American countries, as an example, shows how e-commerce has become a driving force for economic recovery.. It also highlights the importance of reinventing oneself in the face of adversity. Additionally, it is necessary to recognize that e-commerce offers multiple benefits. Olguín Ramírez et al. outline several advantages (2020: 1629). Among these, the following should be considered:
- Increase in sales: Social media and websites allow greater exposure and sales growth.
- Access to international markets: The virtual market provides visibility on a global level.
- Cost reduction: Online marketing is more cost-effective than traditional advertising.
If we want to start a business or continue growing one in these times, it is essential to engage in e-commerce, as this digitalization will ensure the ongoing exposure of products and services. It’s time to embrace and trust in the unlimited possibilities of e-commerce.
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