The E-Commerce Boom – a global view of how online shopping is having its moment - Conversity
Covid-19, Customer Experience

The E-Commerce Boom – a global view of how online shopping is having its moment

It can be strange to talk about success stories during a worldwide pandemic, but the facts are difficult to ignore when looking at the surge in e-commerce transactions. With months of physical stores being closed and various levels of lockdown being experienced worldwide, consumers have been  relying on companies to provide what they need through online portals whilst there are no other alternatives. This has meant that retailers have had to adjust quickly to satisfy consumer habits and, ultimately, stay in business.

March saw a 25% global page view increase year on year and a 21% increase in online orders globally, according to Econsultancy.com. It also found that a survey of 3,000 members of the Influenster community resulted in 41% confirming they were currently shopping online for products and services they would normally buy in-store. This should be no surprise considering that with remote working and much more time spent at home, online activity is surging.

This continued to rise in April and, in the US, retailers have seen online revenue growth of 68% in mid-April year on year. The rapid change in consumer behaviour has meant some companies risk being left behind by not adapting, with those that focus primarily on physical stores being hit the hardest if there is not a sufficient online presence accessible for consumers. Latest data from the Office for National Statistics (ONS) reported British retail sales fell by a record 18.1% in April whilst online retail shopping reached a record high of 30.7%. The question now is how long will this rise in e-commerce last for now that retail stores have reopened and are we actually witnessing a more permanent trend?

The Future Companies Need to Prepare For

It’s not just down to luck and circumstance that e-commerce is seeing record levels of course, as there is a lot of focus and work that goes into creating online customer journeys that make the overall experience enjoyable, intuitive and something that builds customer connection and loyalty. Whilst a company may have a functional ecommerce website, is it set up to cope with higher demand? Can a consumer navigate to search and discover what they need? How can you convert sales vs spend on costly remarketing to attract back visitors? We understand these challenges more than most and have been helping businesses navigate the changing retail landscape during COVID-19. Companies need to empower their customers by implementing intelligent online guided selling, where effectively the in-store experience they are used to and enjoy, is brought into their homes.

Our approach addresses the fundamental concerns your customers will have and will help your business not just thrive in the current climate, but long into the future. Even now that physical stores have reopened, there is a lot of uncertainty on how well this is actually working with ongoing social distancing measures and whether the in-store shopping experience is as enjoyable now. Many companies who have implemented a clear online customer journey,  are seeing the huge advantage this brings.

Speak to our team today about your current concerns and we’ll be more than happy to assist in how the Conversity platform can help transform your customer’s online experience for the better. You can read more about our platform and the sectors we are helping here.

Vina Vadgama - Profile