The Impact of Coronavirus (COVID-19) on E-commerce and Customer Spending Pattern in South Korea – e-Market Trends, Forecasts and Statistics

Abstract

Coronavirus (COVID-19) has caused a lot of disarray in all sectors across the world. Businesses have been significantly affected by the spread of the virus. Manufacturing, tours and travel, education, among other have been profoundly affected. A lot of strain has been exerted on most multinational operations. The pandemic has impacted retail trading. The need for e-trading and e-commerce has significantly increased because they promote distribution of products with minimal contact between the sellers and the buyers. This paper looks at how international trade has been impacted through addressing methods that have been employed to ensure that countries such as China and South Korea have managed to carry out their manufacturing processes and exportation. The paper explores the available literature regarding the purchasing behavior of prospective customers during the COVID-19 period. Data has been collected in different parts of the world to get facts about the impact of the pandemic. Market trends and future statistics forecasts have been provided. The research has also given possible recommendations that can be adopted by the World Health Organization and all the nations of the world to help in containing the COVID-19 and bring back sanity across the globe.  Keywords:COVID-19,E-commerce,Spending Pattern;South-Korea;e-MarketTrendDOI: 10.7176/JMCR/69-03Publication date:July 31st 2020