During lockdown we were forced to adapt to a new way of living that made us take a step back, realise what really matters and decide whether that which brings us joy might not be the same as before.
This has led to a vast experiment giving retailers unique lessons in the limitations of online channels and their relationship with bricks-and-mortar. I can certainly say that retail is going through a “Retail Renaissance” and most brands are restructuring their businesses to provide heightened consumer and community engagement. This caused mass movement towards online sales.
Saheli Roy Choudhury from CNBC raised the next key points: “The coronavirus pandemic has pushed many shoppers to make their purchases online. E-commerce firms have reported record sales during major shopping events last month, including $115 billion from Alibaba and JD.com during Singles Day.”
Saheli also stated: “Most analysts and e-commerce companies predict that the growing trend of online shopping is here to stay even when the pandemic is over.” The online traffic worldwide in just the supermarket segment has increased by 135% from April last year until January this year.
Despite the fact that Ecommerce will be the foundation of retail, real experiences are much more meaningful than digital ones. Circumstance left us questioning the future of retail as we all yearn for tangible and physical interaction with brands, people, and communities.
In an era defined by universal change, context is king. Distinguishing between hype and reality has become even more difficult. What worked before may no longer work, now or in the future. Keeping close to the roots has always been an instinctive choice for us as consumers. We have kept busy by baking, cooking, home improvements and gardening our way through the pandemic. Will e-commerce businesses be able to grasp the cozy, warmth and safety that everyone longs for?