With COVID-19 restrictions prohibiting brick-and-mortar retail, online shopping is experiencing significant growth and could be poised to exceed the typical 20 percent annual worldwide growth figure e-commerce experienced over the last 10 years.
For instance, COVID-19 inflated electronics prices for the first time in years, with sales up 58 percent online, according to Adobe’s Digital Economy Index (DEI). With many consumers sheltering-in-place and setting up home offices and classrooms, electronics like computers, webcams and audio equipment have been in high demand.
In a recent article for EPSNews, Logistyx Technologies President Ken Fleming discusses the many ways the COVID-19 pandemic has propelled e-commerce and how adopting cloud shipping technology can provide retailers the flexibility to adjust to subsequent changes and help them minimize order fulfillment costs. For example, growing customer expectations, rising competition in the marketplace, and the increased prevalence of supply chain disruptions compelled many retailers to embrace digitization and pivot to an omnichannel model that includes a strong e-commerce strategy.
With e-commerce surging amid the pandemic, Ken also shares various shipping scenarios retailers can implement – such as Buy Online, Pickup in Store (BOPIS) – to adhere to social distancing recommendations, while offering customers cheaper delivery options to keep costs in check.
Even as COVID-19 outbreak restrictions gradually ease, many consumers may be reluctant to return to shopping in stores, likely leading to a sustained uptick in e-commerce through the remainder of 2020 and beyond. Retailers can find long-term success by viewing e-commerce as a key sales channel and identifying how they can make omnichannel order fulfillment better.
Read Ken’s full article on EPSNews: “How the COVID-19 Pandemic is Driving E-Commerce.”