Posts Taged 2021

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09 Mar23:55pm

44% Increase in US Ecommerce Sales in 2020

2020 turned out to be an amazing growth year for retail sales with total sales increasing 6.9% to $4.04 trillion up from $3.78 trillion in 2019 according to the US Department of Commerce figures.

Despite the coronavirus having a negative impact on in-store shopping, online shopping increased and was responsible for the total overall gain in retail sales, the first time that the total gain in retail sales has been due to ecommerce sales alone.

While Amazon remained the number one retailer in North America, other retailers continued with their push into the online sales arena. Amazon accounted for 31.4% of all US retail sales in 2020 and while this is a huge part of total overall sales, their percentage lead was down from 2019 when they accounted for 43.8% of total online sales. However, it was still other large stores that made more headway in online retail sales. Those that made gains included Walmart, Best Buy and Target.

So it comes as no surprise that the majority of retailers whether large or small are looking to increase their spending on technology and technology related products during 2021.

Whether they are looking to move to a different ecommerce platform, improve website functionality or automate processes, there is no question that the pandemic has caused a major shift in the way online shopping is viewed by both retailers and more importantly, consumers. No longer an afterthought but a major consideration for any serious retailer, online sales are now viewed as an integral part of any retail business.

girl talking online shopping
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27 Jan21:56pm

Creating Trust through Transparency with Online Sales

As more people have shopped online during 2020 than at any other time, consumers’ trust in online retailers has become more important than ever.  However, if a retailer fails to recognize the widening gap between customer expectations and the service and product they deliver, this can lead to disappointed customers, who will ultimately shop somewhere else.

Research has shown that there have been more online shoppers due to the pandemic during 2020 with a growing number of e-tailers to choose from, however the quality of service has varied greatly among retailers.

Some of the problems consumers have encountered include late or non-delivery,  purchasing a product that is available during the online shopping process only to find it is unavailable at the checkout, and difficult or impossible follow-up with the merchant after delivery or tracking down a product that has not been delivered.

The reliance on online shopping is expected to continue and increase during 2021, placing more pressure on supply chain, inventory management and customer support and retailers will be required to take ownership of the end-to-end customer experience.  Once a customer gains trust in an online brand and the service and products they offer, they will not only shop at that store again, but happily refer the retailer to friends and family.

Implementing tools to manage operational complexities and improve customer communications in order to provide a transparent transaction from the buy button right through to product delivery is sure to set the savvy retailer apart from the competition.

Retailers who are looking at ways to improve upon their customer support and product delivery service levels of 2020 are sure to be the winners in 2021.

xocbox provices retailers with the tools to manage their online and retail operations, including order and inventory management, and customer communication tools.  Contact xocbox to learn more.

online shopping multi-channel
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11 Jan19:15pm

Retail Trends for 2021

There is no question that whatever we predicted would happen to retail in 2020 was quickly changed with the onslaught of the pandemic.

2020 forced bricks and mortar stores to expand their online presence and offer curbside pickup in order to survive.  Customer behavior also changed due to working from home, home-schooling and the desire to shop online for essentials such as groceries and health products.  Professional work attire was no longer needed, and sweats and athletic gear became the norm for virtual meetings.

Online stores not only had to deal with more competition, but some also had to look at different ways of attracting customers as marketplaces such as Amazon gave priority to essential product sellers.

As the pandemic continues to influence how we live and shop, many of these trends are predicted to continue throughout much of 2021. So what are the things that retailers need to do to arm themselves with the tools to attract shoppers and outstrip the competition?

In 2020 we learned that the retail supply chain was pushed to its limits by the pandemic, and this trend is likely to continue.  Retailers should expand their supply chain partners in order to be able to respond to unpredictable demand and be able to step in where the competition fails, either on product supply or ability to deliver in a timely manner.  Optimization of omnichannel fulfillment to customers and analysis of shopper behavior data will also be invaluable.

Last year’s experience has shown that technology to give you real-time inventory visibility and the ability to source products from the closest possible warehouse or supplier should be a top priority for 2021!

If you are struggling with inventory management, contact xocbox to learn how we can help.

grocery delivery
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