In the face of the e-commerce boom, especially in times of a global pandemic, e-retailers should understand a few key trends that have taken shape.
Fremont, CA: The rising e-commerce industry has transformed the whole of retail logistics. E-commerce companies are racing to optimize themselves to the ever-changing needs of their consumers, based on the influence of technology trends and cultural shifts.
Factors like rapid delivery and is prompting change. There are few trends, set to have the biggest impact on retail logistics and transform the industry in the coming years.
According to eMarketer, shoppers now visit online retailers' pages way before the holiday seasons. Digital shoppers plan their holiday shopping before the holiday itself. Retailers must be prepared to fulfill this increased demand longer than before.
COVID-19 pandemic has added uncertainty in this trend. If coronavirus restrictions are in place or if a second wave of the outbreak starts, more shoppers will turn to e-commerce as holiday shopping starts. Mintel predicts that winter holiday shopping can be impacted by a potential recession, the presidential election, and also coronavirus. However, consumers will gift their dear ones with a focus on health and wellness.
Rising mobile commerce combined with resilience to enter physical retail shops will shift all the demand towards e-commerce. According to eMarketer, 43 percent of e-commerce merchants reported an increase in sales during the pandemic.
People have started to like Omni-channel models. That is, if a customer purchases online, this model allows customers to return the item to any physical store location, regardless of where it was purchased.
Data sharing, big data, and robots
When it comes to sharing data, embedded integration technology can seamlessly share data with customers, and that the customers like it. This includes real-time location tracking coupled with traffic updates, optimizing delivery windows. This also helps in effectively track the inventory.
Big data has invaded all business fields, and without it, e-commerce feels handicapped, as it can help experts identify bottlenecks in the supply chain while streamlining the flow of resources. With big data, UPS delivered 350,000 more packages, emitting 20,000 tons less carbon dioxide while saving 10 million gallons of gas, year over year.
Collaborative robots are making tremendous progress in automating warehouses, such as to streamline and optimize warehousing for better order fulfillment, while easing delivery operations. They don’t even require new infrastructure. Operators can also rent robots to accommodate seasonal demands.