eCommerce Trends of 2020
As eCommerce continues to rapidly evolve and the definition of a new normal with shelter in place, social distancing and closures of non-essential businesses continues, shoppers are forced to embrace the new era of online shopping – for almost every need.
Retail stores overall have seen a decline of almost 9% since January, with clothing and accessories seeing a plunge of more than 50% and an estimated 15,000 retail stores closing by year end (Forbes). However, odds are that no matter what you are looking for – from socks to furniture to supplies for remodeling – it can be shipped directly to your home in a matter of days by one of the million eCommerce suppliers in the market.
Grocery shopping has even drastically evolved in 2020, with more than 40% of first-time online grocery shoppers trying services this year to reduce the risk of exposure to Covid. Last year, only 4% of grocery sales were online due to customer preference to select their own meat and produce. However due to the shift with Covid this year, Walmart reports more than 218% growth through its grocery app over the same time last year (CNN).
Commerce as a whole has seen incredible growth this year, crushing its already high 20% growth rate from 2018-19. With increased online access for more consumers and Covid’s shelter in place requirements, shoppers have more time to do research prior to purchasing and more marketplaces than ever to find additional products. (Digital River)
Speed and Scalability Required for Success
eCommerce businesses that can handle demand peaks and scale back resources when demand is slow will succeed in this new era of eCommerce.
Shoppers expect accuracy and speed when purchasing goods online and having them delivered, which leaves your eCommerce business with little to no room for error with inventory reporting and shipping. Do your current processes and platforms set you up for success?
Software automation is the quickest and simplest way to take your business to the next level. Not only does it drive down labor costs and increase capacity to fulfill new orders immediately without having to hire or train additional staff, but it simplifies multiple process and software into one simple solution so that your eCommerce business is scalable and providing on-time deliveries to customers.
Simplify with OPAL’s 4-in-1 Software Solution
EDI | Order Management |Warehouse Management | Shipping
OPAL is the innovative solution to simplify your small to mid-sized business fulfillment needs in today’s rapidly transforming retail world.
To learn how to make your eCommerce business scalable with OPAL, click here!
Click here to book your customized demo today. We are here to support you through this time of change and are here to help you innovate and thrive!