The future is bright for eCommerce.
At the start of the Covid-19 pandemic, as the coronavirus made its way across the globe no one, including the team at ChannelSight, had any idea of what would unfold in the months ahead. Now, as we look to the end of the second quarter of the year, we have a much clearer picture of what the future holds and that future is bright for the world of eCommerce. The pandemic has caused a fundamental shift in buyer behaviour which has had a measurable impact on the eCommerce space.
At ChannelSight we are lucky to have access to the richest source of sales and behavioural data available through the world’s top brands and online retailers who are active on our platform. Throughout Q2 we have seen drastic increases globally in both traffic and conversions across all categories and sectors on our platform. We offered free access to our market tracker to share this anonymised data with our customers and the wider eCommerce community in order to provide a true representation of what was going on in the world of eCommerce. For our customers, we offered extra consultative time to help them deal with the upsurge in online traffic and sales and we launched a dedicated Covid-19 taskforce to guide our customers through the constantly changing landscape of eCommerce.
At the start of the pandemic as countries one by one entered varying states of lockdown restrictions we saw dramatic increases in online sales, most of these specific to areas such as grocery, consumer electronics (work from home equipment especially), and home improvement, traditionally an offline vertical. Some of our customers had issues with fulfillment due to order volume, some had technical issues with the level of website traffic. Naturally this level of online activity eventually began to stabilize as lockdown restrictions were relieved somewhat across different markets. However, traffic and sales are remaining consistently stable above pre-covid levels.
Much like how the pandemic has served as a catalyst in enabling huge volumes of employees to work from home, resulting in many employers realising that working from home is a viable solution for many organisations, the same can be said for online shopping. During the pandemic, with bricks and mortar stores closed to the public, shoppers were forced to rely on online shopping. The result, and our data can attest to it, is that shoppers have become more comfortable with online shopping, and that the future is bright for eCommerce.
Customer Centric Approach
“Like many other brands we have seen an even stronger focus on Digital topics within BSH since COVID-19 hit. The scalable solutions from ChannelSight worked smoothly during our push and the acceleration of our B2B2C initiatives. It’s good to know that we are working with a company we can rely on when it matters most. ”Moritz Schröter, Global Digital Transition Solution Design & User Experience Manager At BSH
Due to the rising demands, we have been fortunate to onboard many new customers during this time and perhaps more encouraging to us is that we have seen many of our long standing customers expand their business with us, as they see their own online businesses expand.
We have seen our product range expand in an effort to further help our customers to navigate the rising demands that they are experiencing online. Last month we launched our eCommerce Intelligence Platform, a suite of 7 products to help our customers chart their success along the entire digital path to purchase. From ensuring digital shelf compliance, to facilitating higher conversion rates on retailer sites, to powering the intelligence that drives a brand’s eCommerce machine, ChannelSight is uniquely positioned to be the end to end solution partner to brands as they emerge from the pandemic to the new, and stabilised, normal post Covid-19.