The world has experienced a significant shift towards online shopping, with the emergence of ecommerce playing a crucial role in this change. The COVID-19 pandemic has certainly accelerated this trend, but even before the pandemic, ecommerce was already growing rapidly. In this article, we will explore the emergence of ecommerce in the last 2 years, looking at the key drivers, trends, and challenges.
The COVID-19 Pandemic and its Impact on Ecommerce
The COVID-19 pandemic has been the most significant driver of ecommerce growth in the last 2 years. The lockdowns, social distancing measures, and fear of infection have all led to a surge in online shopping.
Consumers have been forced to stay at home, and ecommerce has provided a safe and convenient way for them to buy goods and services. According to a report by Adobe, the pandemic has accelerated ecommerce growth by 4-6 years.
The Rise of Mobile Commerce
Mobile commerce, or m-commerce, has been on the rise in the last 2 years. Consumers are increasingly using their smartphones to shop online, and retailers are adapting by creating mobile-friendly websites and apps. According to Statista, mobile ecommerce sales in the US are expected to reach $432.54 billion by 2022.
The Growth of Social Commerce
Social media platforms such as Facebook, Instagram, and Pinterest have also contributed to the emergence of ecommerce in the last 2 years. These platforms have introduced shopping features that allow consumers to buy products directly from their feeds.
According to a report by eMarketer, social commerce sales in the US are expected to reach $36.09 billion by 2022.
The Expansion of Same-Day Delivery and Curbside Pickup
The demand for fast and convenient delivery options has led to the expansion of same-day delivery and curbside pickup. Retailers such as Walmart, Target, and Amazon have invested heavily in these services to meet the needs of their customers.
According to a report by Cowen, same-day delivery and curbside pickup are expected to account for 20% of all retail sales by 2025.
The Challenges of Ecommerce
While ecommerce has experienced significant growth in the last 2 years, it still faces several challenges. One of the biggest challenges is the high cost of shipping and logistics, which can eat into retailers’ profit margins. Another challenge is the increasing competition, as more and more retailers enter the market.
Additionally, retailers must also deal with the challenge of cybersecurity, as online shopping creates new opportunities for cybercriminals to steal sensitive information.
The emergence of ecommerce in the last 2 years has been driven by the COVID-19 pandemic. The rise of mobile commerce, the growth of social commerce, and the expansion of same-day delivery and curbside pickup.
While ecommerce has experienced significant growth, it still faces several challenges. It includes the high cost of shipping and logistics, increasing competition, and cybersecurity risks. Despite these challenges, ecommerce is likely to continue its growth trajectory in the coming years, as consumers continue to demand the convenience and flexibility it provides.
If you found this article useful, please do visit the rest our of blog.