The world is experiencing a dynamic and profound shift in the shopping journey. Even without the added layer of the current COVID-19 pandemic, digital commerce has been gaining traction as a preferred method of consumerism. Now, because of the pandemic, we have digitally jumped ahead by three to four years in the span of two months. Pre-pandemic, ecommerce was expected to account for 15% of US sales this year, but by the end of April 2020, 25% of all sales came through ecommerce channels — a 65% jump.
With the widespread closing of retailers as part of the lockdown efforts and the likelihood of a viable vaccine 8 to 14 months away, this number is likely to rise even more as we all become accustomed to relying on ecommerce and omnichannel shopping. And these trends may become long-lasting habits, even as we emerge from the COVID lockdown.
As we consider what the great retail reawakening might look like, we must think about the new shopping habits and how they will impact retailers and branded manufacturers. The Post-COVID Commerce report examines trends, habits, and implications through four phases of a post-COVID world. We also outline new retailer dynamics, the shopper HOPES strategy, and brands’ shopper-centric approach.
If you missed the Post-COVID Commerce webinar, you can watch the replay on demand to understand what each phase of the Recovery Framework will mean for shoppers, consumers, retailers, and brands.