The impact Covid-19 is having on society will result in a long-term boost to e-commerce, according to data and analytics firm GlobalData.
Online shopping has played a critical role during the pandemic, with lockdowns across the world forcing stores to close and many businesses looking to online sales alone to keep them afloat.
But clothing and footwear retailers are still suffering. GlobalData estimates a 7.9 percent drop in UK online sales from 2019 levels. That’s because even though many fashion companies can still sell through online channels, the demand to buy new clothing has plummeted in recent weeks as people stuck at home feel less need to revamp their wardrobes.
“Covid-19 has given the e-commerce sector a boost,” said Luke Gowland, thematic analyst at GlobalData, in a statement. “Companies will be focusing on their supply chains and how technologies such as the cloud, 5G, IoT, and blockchain can help to improve their efficiency and robustness. Ultimately, ecommerce will benefit from Covid-19 with even the worst affected companies will begin to build momentum once more once lockdown restrictions have been lifted.”
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