Summary
Online retail has grown dramatically over recent years. Stores – both the prepared and unprepared – have had to shift much of their business to online shopping models over an accelerated timeline.
Consumers now rely on e-commerce for both essential and non-essential items, with even markets that were previously highly resistant to purchasing items online adapting and making the shift. The nature of transactions has shifted, too, as online demand for goods such as groceries, alcohol, and home improvement items has grown considerably, while categories like apparel and footwear have been slower to follow.
Retailers offering features like AI-assisted shopping, 24-7 chatbot service, and click-and-collect continue to perform well, as convenience remains a key priority for online shoppers worldwide. In addition to this, e-commerce platforms with a robust, frictionless customer experience strategy – covering everything from browsing to delivery – benefit from the strongest demand.
It is undoubtedly an exciting time to be an e-tailer, but it's also important for online stores to remain realistic in the face of an unpredictable market. While closing brick-and-mortar stores may seem attractive to e-commerce aspirants, operating a storefront on the cloud comes with its own operational costs and challenges. Keeping a finger on the pulse will be critical, as the human need for physical interactions means shoppers continue to value in-person experiences. Many retailers are therefore hedging their bets by investing in omnichannel solutions and we'll be watching their developments closely.
How we add value
Cedar has experience advising clients across the world on the design and implementation of future-ready e-commerce strategies. Most notably, our team of consultants recently led the research and development of an actionable online business roadmap for one of India's leading footwear retailers, implementation of which is now underway.
- The most successful e-commerce strategies are customer-centric and, therefore, data-driven. We harness our proprietary data analytics expertise and tools to help you design a thoroughly informed digital strategy.
- Digital transformation and complex technology implementation are at the heart of much of our work. Our collaborations with a variety of clients – everyone from retailers to bankers – positions us as a trusted partner in enhancing your digital infrastructure.
- For retailers – and for the world – the digital-first era is here. Your marketing and sales teams will need to focus their efforts on effectively serving a digital-savvy audience. Cedar’s innovative marketing and sales tools are your key to unlocking digital success.
