DataArt gathered statistics and insights on how retailers are dealing with warehousing, customer retention, delivery issues, returns, and much more
Minimal Influence on the business. Losses during couple of months only.
Economy rebound within 2–3 month.
Large loss of presented value of future output.
6–12 month for recovery.
Ever-growing loss in future value.
predicted revenue impact of annual sales
overall reduction to future buys for next season
cancel on-order (yet-to-arrive) products
For companies that are not yet digital reinventors, lockdown became a huge hit. DataArt suggests three starting points for focusing digitization efforts:
Regulations: Closure of non essential business (retail included), Stay-at-home measures, Distansing
Consumer shifts: Demand of fresh goods. High need for hygiene products. All online (load problems). E-commerce ecosystems
Regulations: easing of tough measures. opening of most businesses
Consumer shifts: cost reduction. Personal social distancing. Online orders will stay the same
Regulations: Full opening. Preparing for next pandemia
Consumer shifts: Online is the king. Hygiene will be a priority. Neat choice
“Stick” through the prolonged recovery and the next normal: increased price sensitivity, higher digital engagement, rise in attention to wellness and hygiene, “nesting” at home, and a redefinition of brand purpose.
|Site conversion rate||66%||8%||26%|
|Repeat customer rate||41%||33%||26%|
|Average order value||22%||31%||47%|
|Shopping cart abandonment rate||51%||12%||37%|
|Marketing costs per order||9%||22%||69%|
|Percentage of revenue spent on IT expenses||19%||67%||14%|
An increasing number of challenges are slowing the adoption of tools and technologies that could further support this growth. Prioritization nowadays is the biggest problem.
|Omnichannel fulfillment execution:||agree||somehow
|Our team share common OF success goals||58%||29%||13%|
|We have right people at the right place to execute the strategy||49%||31%||20%|
|We have right technology at the right place to execute the strategy||39%||24%||37%|
Companies are struggling to consistently connect with their customers. But trying to focus on fulfillment and fast delivery.
CEOs, CTOs and product specialists do everything possible to keep up with this situation and quickly meet the changing needs of consumers.
We are witnessing the formation of completely new behavior regarding intensive hygiene procedures, online shopping, virtual training, work at home etc. These processes will certainly affect the way consumers interact with brands and companies.
Your first priority is to help people feel comfortable in the new reality:
Den is a Principal Consultant at DataArt. He has over ten years' experience in the IT industry, as a developer, technical architect, solution architect, and IT leaderLatest articles by Denis:
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