The events of 2020 have certainly left their mark on our society, and many changes look likely to continue into the future. Retailers are no different and have risen to the challenge of the new circumstances.
1:Online Retail Has Surged
One effect of the pandemic is the rise of e-commerce. Whilst a substantial proportion of customers were already making at least some of their purchases online, the arrival of Covid-19 and the subsequent lockdown periods have seen this retail sector sky-rocket. The growth is evident, as shown by the figures from https://www.retailresearch.org/online-retail.html.
With bricks and mortar shops closed, retailers were left with little option but to focus on their e-commerce offering. This, combined with increasing online engagement via social media and other platforms, has undeniably presented retailers with challenges but has also identified opportunities.
2:Cloud Technology Powers E-Commerce
A key factor cited by those who have successfully navigated the switch to e-commerce, cloud computing has proved invaluable over the last year. The processing capabilities of cloud computing mean that retailers can analyse their data more effectively than ever before, allowing them to target their marketing and develop their processes accordingly. After all, it is no longer the Millennial or Gen-Y consumer groups that are making their purchases online. Research by Mintel, for example, shows that the over-65 age group are playing a significant part in the recent increase of online shopping.
Cloud computing has also allowed retailers to scale their operations quickly and to provide continuity of all aspects of their business, with even remote customer service departments made possible. The emergence of retail-dedicated clouds from major players such as Google and Microsoft show that the trend is set to continue and, indeed, continue to grow.
Meanwhile, the arrival of vast new warehouses heralds a future where e-commerce is a dominant component of all retail. Smaller businesses not wanting to be left behind should move fast. An important first step is choosing the right domain name. Your domain name should reflect your brand or the service you provide, and you can explore your options and select domain names at names.co.uk.
Moving your retail business online is crucial if you want to stay relevant in the modern marketplace. The rise of online shopping shows no sign of slowing, so there is no better time to begin your e-commerce journey.