In a post-pandemic world, online shopping will account for over half (51 percent) of retail sales globally with 72 percent of global shoppers saying that online shopping came to their rescue in 2020 and nearly three-quarters (73 percent) saying e-commerce would be more important to them in 2021. Another contributing factor for 60 percent of global shoppers was being more comfortable using digital technology in the wake of the pandemic, according to Wunderman Thompson Commerce’s Future Shopper Report 2021.
Around 86 percent of Indian shoppers are less prepared to put up with mediocre or even ‘satisfactory’ shopping experiences and demand excellence from brands and retailers. And their favourite online shopping site is Amazon. The ecommerce site ranked highest in terms of the service and experience they provide to consumers, according to the report.
The report revealed interesting highlights about shopping trends in the pandemic-gripped world. Despite the unabated rise of e-commerce and the fear to physically shop, 72 percent of Indians are the most frightened about shopping in-store as compared with their global counterparts in the wake of COVID-19.
Consumers on the whole are demanding integrated omni-channel offerings from retailers and brands. What’s more, two-thirds (64 percent) of global shoppers say that they prefer to shop with brands that have both an online and offline presence, while 59 percent of consumers said they wished brands would communicate seamlessly with them across all channels, digital and physical. And their expectations need to be met, with close to three-quarters (73 percent) saying retailers need to get better at giving them the products, service and experience they expect. This means that retailers must operate across multiple channels including social commerce which is going to be a massive aspect of eCommerce.
Around 44 percent of global consumers have already bought from a social platform and over half (56 percent) intend to increase this in the future. “2021 and beyond will usher in an era of more diverse online offerings, with marketplaces, direct-to-consumer brand sites and social commerce all having a key role to play. Businesses must ensure that this more complex online landscape complements their overall retail offering which needs to span digital and physical,”
Hugh Fletcher, global head of consultancy and innovation at Wunderman Thompson Commerce, said: “E-Commerce can no longer be treated as the supplementary sales channel. Global shoppers have clearly stated that, in the future, it will be their primary channel for retail purchasing. For some organisations, and particularly marketplaces, they are reaping the rewards of investing in a strong online presence, while the news has been littered with stories of businesses who have not identified these changing demands going bust."