"The pandemic has forced more consumers online, driving eCommerce adoption forward several years. As things open up we expect growth to slow a little but not reverse the gains already won. Likewise, specific online shopping trends are likely to continue. Marketplaces have proven to be big winners and the convenience consumers get from shopping with them (i.e. fast delivery, cross-vertical shopping and easy returns) will keep bringing them back, continuing to grow their share of total eCommerce sales," said Dave Nicholls, Global Head of eCommerce, OFX.
Nicholls notes that much of the frustration of shoppers during the early days of the pandemic were overcome as they adjusted to the 'new normal' and they quickly came to enjoy the convenience of clicking. So, what is it that shoppers are looking for as more businesses, re-open?
"Right now, shoppers want the same things they've always wanted: ease of returning unwanted goods, fast shipping and a simple shopping experience, including widely used payment options. From direct to consumer (D2C) brands, omni-channel experiences will become more necessary, especially in categories such as fashion. Consumers want to shop or check inventory online then return or go to collect in store. Consumers are going to want to get out and shop again as things open up, but maintaining the online convenience will be a big part of creating a successful experience," said Nicholls.
But what merchants really need to understand is that shoppers are resilient and will adjust to even most drastic changes.
"Shoppers are more resilient than you think to shifts in the macro economic environment, and eCommerce has provided a new vector to retailers to enable them to withstand economic shocks more readily. When shoppers want or need online convenience they mainly turn to trusted marketplaces. That being said, the death of the high street might be overrated. During the pandemic, when local businesses were able to deliver a good eCommerce experience, shoppers stepped up to support them," said Nicholls.
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