COVID-19 is Accelerating a Shift in Customer
As many brick and mortar shops have pushed their commerce online. Their customers, young and old, are also purchasing online in larger numbers. Beyond this, COVID-19 has impacted consumer habits regarding frequency of purchase, payment method, total transaction value, as well as quantity and type of item purchased. In-quarantine consumer spending now leans towards lower value purchases such as food, drink and entertainment.
Even with such a strong influx of first-time online shoppers, it’s important to recognize the limits in rapidly meeting such a high demand.“ E-commerce companies are already straining under the increased demand, with online grocery specialist Ocado in the UK introducing a virtual queue and quotas on types of items to manage traffic to its site and prevent stockpiling”, states GlobalData Analysis.