Call Us
E-commerce is growing rapidly with global sales topping $3.5 trillion in 2019, and forecasts estimate the industry will be at $6.5 trillion by 2023. Also by 2023, e-commerce is expected to account for 22% of all global retail sales. This growth in e-commerce and m-commerce is being driven by a variety of emerging trends including improved mobile shopping experiences, increase in BOPIS (buy online, pick up in store), easy access to curbside pickup and expanded rapid delivery by retailers and third-party providers.
Taking a closer look at the Jabil survey results, we found that companies with international operations are the most likely to deploy online and in-store technology equally. Strategically, this integration allows them to increase brand recognition and customer loyalty by expanding their reach, while also optimizing the tangible experience and traditional services.
We can already see this concept being utilized in many chain stores in the U.S., such as BestBuy, Lowe’s and Target, which offer collection points for online sales at the front of the retail store, thereby augmenting the brick and mortar to support the online channel. Similarly, restaurants that offered curbside service during the pandemic lockdown are now adding inside collection points as options for retrieving carry-out without waiting in line. The bottom line is that a convenient, customized experience for the shopper translates into loyalty and profits for the retailer.
