E-commerce continues to boom with 37 percent of more consumers shopping online this year. More than 60 percent of global consumers have changed their buying behavior, due to the pandemic. In the United States, ecommerce sales are expected to surpass $740 billion by 2023.
A rise in online purchases is a result of many factors, such as
- Social distancing for pandemic’s protocol
- The increased use of smartphones and mobile shopping
- Social media and ecommerce
- Transformative technology
- Online marketplaces
- The convenience to shop at a convenience time
The top reasons for consumers to choose their retailers are better prices and values. Targeted campaigns and social media engagement are strategies for retailers to win new and existing customers. Ecommerce success is more than having an interactive website. In a recent Statista survey, direct to site, email, and SEO were found to be leading traffic drivers.
There is bad news for brick and mortar retailers’ sales which fell drastically by 48% and this trend will continue. Reality hurts.
What can you do about it to pivot and shift your mindset to stay sustainable and relevant in this trend?