The vast majority of U.S. retailers are doubling their investments in e-commerce in a bid to take advantage of changing consumer shopping habits after COVID-19, according to a new survey.
Eight out of 10 organizations prioritize investments in e-commerce operations, either equally or ahead of in-store experiences, according to 451 Research’s survey of 250 industries across retail, food and beverage industries. ” hotel, renovation and consumer goods S& P Global Market Intelligence. About 54% said they would focus on mobile payments and e-shopping, in-store pickup and curbside pickup services, up from 31% in Q2 200. Only 20% say they grant priority to in-store experiences.
Jordan McKee, senior analyst at 451 Research, told S&P Global Market Intelligence that companies are prioritizing e-commerce in an effort to “prepare for the future” for the next big market disruption.
“There have been so many lessons learned throughout 2020 – lots of shortcomings in terms of ecommerce strategy, whether it’s fraud prevention strong enough or not offering the right mix of payment methods, like digital wallets, ”McKee told S&P Global. “People take these key learnings and just prepare for the future.”
Retail analysts in particular think E-commerce will continue to drive the sector’s growth in 2021, in particular in the fields of household articles and sports equipment.
“When it comes to shopping, it’s obvious now that the consumer doesn’t recognize any dividing lines,” said Matt Powell, senior sports industry advisor for NPD. “Shopping is a thing for them now, no matter where it is. The faster retailers recognize and accept this premise, the better off they will become and the more profitable they will become. ”