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E-commerce to boost fight against COVID-19: GlobalData

Data analytics company GlobaData says, e-commerce is playing a critical role in the fight against COVID-19 as online retailers are experiencing a flood of orders from customers confined to their homes. This view was expressed in the company’s recently-released report ‘COVID-19 Impact on E-commerce.’

The report states, even the most skeptical consumers are forced to abandon physical stores in response to restrictions on movement. Supermarkets are experiencing unprecedented demand for home grocery delivery and the UK online food and grocery market is expected to grow by nearly 20 per cent in 2020 to £13.2 billion. However, social distancing measures have dealt a significant blow to clothing and footwear retailers. GlobalData forecasts a 7.9 per cent drop in online sales from 2019 levels. However, online retailers will still be able to grab market share from their high street rivals as they will focus on technologies such as the cloud, 5G, IoT, and blockchain to improve their efficiency and robustness. Ecommerce will also help worst effected companies to build momentum once more once lockdown restrictions have been lifted.