As the COVID-19 pandemic reshapes our world, more consumers have begun shopping online. People in greater numbers and frequency have begun the shift to ecommerce to buy many things due to necessity, with isolation and shops being closed.
The boom in online shopping during the coronavirus pandemic has seen more than one in seven UK retailers (15%) create roles specifically to cater to an increase in digital sales and boost online capacity, according to a study of over 300 senior retail executives conducted by Barclays Corporate Banking.
As people have embraced social distancing as a way to slow the spread of the pandemic, there has naturally been a drop-off in brick-and-mortar shopping. That therefore has led to an increase in online shopping as people turn to ecommerce to purchase the items they might have otherwise purchased in person.
Backed by Statistics
While large traditional retailers announce big lay offs because of the pandemic, sometimes shedding thousands of staff, coronavirus lockdowns have in contrast given e-commerce a major boost. Recent data shows a shift to shopping online – according to Kantar consulting group, global e-commerce grew 41 percent in only three months compared with 22 percent growth for 2020 as a whole to date, as the pandemic “transformed” retail habits.
Consumers spent an additional hour every day online in 2020 in light of the coronavirus pandemic and stay-at-home restrictions, according to recent eMarketer data. 77% of consumers say they have bought more during lockdown and will continue to do so. Unsurprisingly, consumers report increased purchasing for food, with fresh groceries (26% of consumers), long-life groceries (34%) and household goods, such as cleaning products and toilet paper (30%). However, despite social interaction being severely limited, 19% of consumers reported purchasing more healthcare products online, whilst 11% have bought more beauty and cosmetics products and 6% have bought more luxury goods online. 11% also said they have purchased more technology online since the beginning of lockdown than before.
In the hospitality sector restaurants, cafes, takeaways, fish ‘n chip shops, kebab houses and other food-serving outlets continued to trade during the COVID-19 crisis through their online platform. Many using third party apps and a growing number now having their own websites.
Ecommerce the new norm
The UK is the world’s third largest market for e-commerce, and a substantial number of businesses have invested even further in technology under lockdown.
A third (33%) of retailers have had website upgrades, 32% have started to accept new payment methods and one in four (26%) have embraced data analytics for the first time.
Years from now when the pandemic’s impact on global business is analysed, it’s likely that one of the biggest changes is the shift to ecommerce. The move away from brick and mortar shopping towards digital retailing due to the Covid-19 pandemic will have a lasting impact even after lockdown ends.
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