DGAP-News: Retailing in the 'new normal' era: the pandemic radically changed the market structure and forced investment in digitalizationSource: EQS
The pandemic has accelerated the transformation of the retail sector and its switchover to digital. Within a few months of loosening the restrictions on traditional retailing, the accelerated growth of e-commerce slowed down, but is still impressive. Retailers should move from responding to the current changes in the market environment to long-term investments in the digitalization of sales channels, including the development of omnichannel platforms - these are the most important conclusions from expers of
After the first weeks of the lockdown, when the pandemic-induced change in shopping habits led to a boom in the e-commerce industry, and leading into July and August, many countries are already seeing a normalization of the channel's share of total retail sales. Despite a more recent and clear slowdown in the e-commerce growth, its role in shaping retail sales and the entire economy is disproportionately greater than before the outbreak of the pandemic. In many countries, the last few months have seen the growth of the e-commerce industry, which has been previously achieved over many years. During a webinar organized jointly by
- Our analysis of the period from 26 July to 8 August, i.e. 3 months after the first loosening of the restrictions, clearly shows that online sales continue to gain in importance. In countries such as the
CEE region on the afterburner
The pandemic increased the number of online purchases made in traditional retail chains, but not least for the stores themselves, it also significantly increased the Average Order Value (AOV) of baskets. In the case of 'pure' e-commerce, the
Landscape after the virus first hit - what will the future bring for the retail?
This year's change in consumer attitudes has similarities to the situation in 2003, specifically the outbreak of SARS in
- COVID has left its mark on both traditional and e-commerce businesses. It showed that traditional stores will not disappear because people want to have a choice, but they will have to introduce more and more digital solutions to enrich and support the shopping experience. For security reasons, customers will prefer smaller and local traditional stores. Large shopping malls are losing out on the Internet in many areas - security, convenience and a wide range of products... For e-commerce, the pandemic is undoubtedly a turning point. In my opinion, we are moving faster and faster towards a model where the Internet will become the main retail channel and traditional sales will be complementary. The development of online sales automatically translates into the increased popularity of services such as click & collect, pick-ups or parcel machines. However, while the former is a temporary trend, the latter will stay with us for many years - adds
2020 is an explosion for e-commerce. According to
- The pandemic gave people an impulse to test online shopping, often for products that they have never bought online before. It also showed that not all stores were prepared for such a drastic increase in demand for their products. It's a lesson for the future for retailers to constantly invest a lot in the "ease" and convenience of online shopping on the one hand, and, on the other hand, to take care of the continuous development of logistics, because you have to be ready for a flood of customers at any point, not only during Black Friday - summed up
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