3 Ways COVID-19 Has Accelerated Demand for e-CommerceNovember 18, 2020
For the first 10 days of the holiday shopping season, U.S. consumers spent $21.7 billion online—a 21% year-over-year jump, according to Adobe Analytics. This likely stems from the fact that 63% of consumers are avoiding stores and buying more online, with health concerns due to the pandemic driving that decision for 81%, according to a new survey. (Source)
The on-going pandemic has deeply influenced retail and has accelerated the demand for e-Commerce. Here are the 3 biggest ways online retail has been affected:
Preference to Stay At-Home Vs. Shop In-Store
Due to the pandemic and varying state regulations, many individuals prefer to stay at home and order products online. 47% of shoppers stated the number of times they shop online will definitely increase, a release from O2 Business said. This comes after the peak of the pandemic, when over a third (34%) of consumers sourced essential and non-essential items from online retailers.
There are some individuals who do miss the experience of walking into a store to simply view the displays and try things on. In fact, 24% of customers say they have purchased an item online whilst in-store, and over a third (36.5%) have used their mobile to read reviews or price-check online while shopping in a physical store.
Increase in Online Customer Research
Regardless of whether a shopper prefers to buy things online or in-store, it is very evident that consumers are being more cautious with their purchases and researching products both at-home and in-store. An O2 Business report reveals that nearly half (49%) of customers are spending more time researching potential retail purchases online than they were before the pandemic.
The value of optimizing your business online reputation is increasing due to the on-going pandemic. Due to the unprecedented nature of this year, individuals are seeking security where they can find it and are being more reliant on the experiences of others regarding a product or service.
Making Customer Experience a Priority
The longer-term impact of the pandemic means that now is a critical time for retailers to enhance their digital propositions and provide meaningful customer experiences throughout the entire shopping journey. With stress surmounting on purchasers, customers deeply desire and expect for their purchases to be excellent. Adding moments of delight into a customer’s experience with your product or service is of the utmost importance in order to garner their trust and loyalty.
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