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2021 Marked the Beginning of a New Era in Retail and eCommerce
The year 2021 heralds the dawn of a new era in retail and eCommerce. The pandemic prompted a massive shift in
By
Apac CIOOutlook | Friday, December 03, 2021
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Grocery shopping online is here to stay. While the early pandemic panic buying has subsided and some newly minted online grocery buyers will eventually return to physical shopping, the pandemic will have long-term consequences for grocery eCommerce.
Fremont, CA: The year 2021 heralds the dawn of a new era in retail and eCommerce. The pandemic prompted a massive shift in almost everything digital, and while 2020 will be remembered as an outlier in terms of the frenetic pace of adoption, consumers' new behavior is here to stay. Digital activities will continue to expand from today's accelerated base over the next five years.
The Retail Industry Witnessed Numerous Developments Since the Pandemic Began
Many retailers have or are developing vendor partnerships with the goal of increasing supplier diversity, equity, and inclusion. The 15 Percent Pledge, which calls on major retailers to commit a minimum of 15 percent of their shelves to Black-owned businesses, was launched. Macy's created The Workshop at Macy's, a business boot camp created ten years ago to give minority and women-owned businesses the tools they need to succeed in the industry. Albertsons launched programs in June 2021 to provide diverse-owned small businesses with access to often difficult-to-acquire working capital.
Grocery shopping online is here to stay. While the early pandemic panic buying has subsided and some newly minted online grocery buyers will eventually return to physical shopping, the pandemic will have long-term consequences for grocery eCommerce. The number of digital grocery buyers increased from 92.3 million in 2019 to 142.9 million in 2021, and this figure is expected to rise further. Online sales are not just coming from new customers; many current digital grocery shoppers plan to devote more of their budgets to eCommerce orders in the future. And, as fast delivery and click-and-collect capabilities improve, consumers' grocery choices will be influenced by price and convenience.
