COVID-19 accelerates digital shopping habits, states Euromonitor International. Globally, online purchases of goods and services reached $6.8 trillion in 2019, more than double the amount spent in 2014. As the COVID-19 pandemic broke out, e-commerce has already posted a double-digit percentage increase.
According to Euromonitor International, nearly every category recorded a double-digit increase in the percentage of connected consumers making digital purchases between the two fielding timeframes (January 6-February 27 and March 12-April 8, 2020). The only exception was beauty, health and personal care purchases, jumping eight percentage points. In contrast, the percentage of connected consumers purchasing electronics and appliances, foodservice and travel online grew by twice as many points.
Foodservice takeaway and delivery posted one of the strongest increases, from 48% of connected consumers to 64% purchasing digitally between fielding timeframes, due to dine-in closures around the world, which forced operators and consumers to migrate online. The consumer electronics and appliances category also received a digital boost as shut-in consumers bought products for home offices, remote learning and entertainment.
As COVID-19 accelerates digital shopping habits, Michelle Evans, senior head of digital consumer, pointed out that 2020 was projected to be the tipping point for mobile commerce (m-commerce) even before the pandemic. More than half of digital commerce spend globally has been executed using a mobile device. During the COVID-19 pandemic, a higher percentage of connected consumers used mobile devices as opposed to computers to execute e-commerce purchases, which will accelerate this trajectory around the world. Even while homebound, consumers relied on their mobile phones for purchases, underscoring the importance of this device for commerce activities.
Looking ahead, According to Euromonitor International’s Voice of the Industry: COVID-19 Survey, 60% of industry professionals viewed reshaping and implementing digital strategies as a way to mitigate similar future risks, ranking as a more important action than crisis contingency planning.
Technologies like the cloud and artificial intelligence (AI) enable companies to quickly adapt to changing consumer preferences. Analytics can predict when a customer may order a product, enabling retailers to forecast demand in specific areas so they can stock accordingly. Integrating this technology into retail operations can reduce shipping, inventory and supply chain costs while improving delivery times and customer satisfaction. In addition, sensor-based technology allows retailers to track products across the supply chain and throughout physical stores. The pandemic-driven e-commerce boom exposed most retailers’ inability to locate every product within their store, which is necessary in order to satisfactorily complete curbside pickup orders.
Technology is here to stay, stated Euromonitor International, and the pandemic only accelerated the adoption of several key technologies like the cloud, AI and automation. Digitalisation is at the core of these efforts because it enables businesses to quickly enhance capabilities and maximise efficiencies across their operations. Having the right technologies in place allows for greater agility across operations, enabling businesses to react fast when consumer demands suddenly shift – all of which has been considerably magnified due to the pandemic.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
Snapchat has been betting big on Augmented Reality’s (AR) retail future consideringJune 22, 2021 | By Jibran Chouguley
Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and
UAE-based Al Maya Group announced that it will be boosting import of
UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
“The fashion industry will need to ‘slow down’ so that people can
Dragon Mart, the world’s largest Chinese trading hub outside mainland China, has
Alshaya Group this week celebrated the ‘go live’ of its 100th online
Increased vaccinations (47%) and continued protective and social distancing measures (28%) will
Extravagant, conceptual, great food and views are some of the ways that
By Mark Thomson, EMEA Director of Retail & Hospitality Solutions at Zebra
UAE-based GMG is embarking on a wide-ranging digital transformation project that will enhance its
As the UK begins to return to normality, Father’s Day shoppers are
Abu Dhabi’s state investment company ADQ is in talks to invest about $500 million
UAE-based Majid Al Futtaim launched the first in a series of quarterly
Jumbo, the second largest supermarket chain in the Netherlands, is part of the
Internet is one of the most powerful inventions of all time, the