Over the last two years, consumer intent to purchase goods through e-commerce channels has increased significantly and this trend promises to stick over the long term as people become more accustomed to purchasing online. According to recent research from McKinsey, more than 50% of consumers expect to continue their online shopping habits after the pandemic subsides, a pattern that will fuel the growth of online sales, which forecasts suggest could account for nearly half of all retail revenues by 2024.
Retailers increasingly respond to these shifts in consumer shopping behaviors by adopting more innovative approaches to successfully navigate e-commerce order fulfillment. For instance, the following Logistyx clients recently made the news for the success they achieved in implementing creative solutions to help improve e-commerce results.
Thanks in part to the uptick in home improvements during the pandemic, Home Depot has been an essential retailer over the last couple of years. With growing online orders and a strong buy-online-pickup-in-store model, Home Depot has churned out strong results on virtually all measures: earnings, revenue, margins, and e-commerce. In fact, Home Depot’s stock soared 56% in 2021 and this momentum is expected to continue into 2022 as the robust housing market remains strong. With 90% of the U.S. population residing within 10 miles of a Home Depot, it’s no wonder 55% of online orders were fulfilled through a store.
Oxford (Owner of Tommy Bahama, Lilly Pulitzer, and Southern Tide)
Leading apparel retailer, Oxford Industries, had a record Q3, with full price retail sales rising 13% and full-price e-commerce sales growing 100% compared to the third quarter of fiscal 2019. The results continue strong e-commerce sales over the last year.
Walgreens exited first-quarter fiscal 2022 with better-than-expected earnings and revenues, with the continued acceleration of Walgreens’ omnichannel offerings a notable upside. The leading pharmacy-led health and beauty retail company also recently shared how it’s leveraging artificial intelligence-based digital search capabilities to help customers find relevant items available locally using omnichannel shopping and fulfillment features, such as same-day delivery and curbside pickup.
We applaud these retailers for their advanced approach to e-commerce. Logistyx proudly works with innovative companies on their e-commerce fulfillment capabilities to ensure superior service, enhanced customer experiences, and significant cost-savings.
To learn how you can elevate your e-commerce fulfillment strategy and successfully meet increasing demand, contact Logistyx today.