How Going Online-Only Is Saving Retail Brands From Going Under
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Ecommerce has enjoyed the silver lining in the COVID-19 storm, but it’s a storm that sank many beloved, long-established retail brands. The ecommerce market is predicted to have grown by 16.5% by the time 2020 is complete, while fears of infection and government restrictions that shuttered brick and mortar stores pushed consumers away from in-store shopping and towards online purchases.
The shift online is likely to persist. Once first-time online shoppers have learned how the process works and created accounts with preferred stores, they’re far more likely to continue. An Accenture study predicts a 169% rise in ecommerce purchases after the pandemic ends, just from new or low-frequency shoppers.