The Coronavirus pandemic has negatively affected multiple industries, particularly the events industry, but the e-commerce industry has risen nevertheless, taking advantage in fact. An investigation by Adobe Analytics showed that US online sales for September have increased 43% YoY, reaching $60.4bn in 18 different product categories. Keeping people at home has backed up online shopping and CommerceHub’s survey on this concept revealed 67% of people found online shopping more convenient, creating a long term foundation for reliability of businesses.
Recently, on October 13, Amazon Prime Day was held, and DigitalCommerce360 estimates that sales hit $10.4bn, a 45.2% increase over Prime Day 2019. Amazon Prime Day allows prime customers to have discounts on specific products and it reels in more Prime users every year portrayed by the massive profit augmentation.
BOPIS is another such initiative, attracting more of the common public and has proved successful. Buy Online, Pick-up In Store has constructed solid chances that people will purchase additional items when going to pick up their online products from the store. According to the International Council of Shopping Centres(ICSC), over 50% of adult shoppers use BOPIS and 67% add additional items to their carts when they know they can pick them up immediately. Creating new ways like this to increase profit is fundamental in development, but is there a limit to the profit and customers that can be raked in?
Overall, we can see that new instalments are storming through our daily lives and creating opportunities rapidly for new joiners in this industry and saving costs but increasing convenience. Will this be our new normal?
