By Abigail Thorpe
Before COVID-19, malls were beginning a slow decline. Now, they feel like a relic from the past. Alongside the many other changes the pandemic has hastened is the increasing call for ecommerce options—even from businesses that never even considered the offering before.
Ecommerce was making its mark on consumerism long before COVID, but we've never seen more demand for it than now. In 2019 worldwide ecommerce sales amounted to over $3.5 trillion, an 18 percent increase from the year before. In 2020, we're on track to take that number to $4.2 trillion, a significant increase in just one year.
In addition to helping offset brick and mortar costs and to appeal to customers who increasingly want to shop from the safety of their own homes, ecommerce helps to bolster stagnant in-store sales. Ecommerce also enables a business to sell direct to consumers, cutting out additional costs and offering added benefits, like creating a direct customer relationship, offering personalized options, and collecting data direct from your customer base to further drive growth and strategize marketing efforts.
The rise of ecommerce has also led to a boom in private label brands that are successfully competing with legacy manufacturers. Overall, ecommerce has the potential to drive a business' sales, particularly during these unprecedented and uncertain times.
But the increase in demand for ecommerce means the competitive market has also grown. Many businesses are moving online to keep sales alive, which means there is lots of competition—and greater room to fall between the cracks and not get noticed. Businesses need to keep up to date with online sales strategies, trends and offerings in order to stay competitive, and they need to stand out from the crowd.
How can your business successfully make the transition? Rocket Fish Digital has all of the tools and expertise to help. Reach out to one of our talented team members today to find out how we can partner with you to keep your online presence alive and thriving.