Industry Spotlight: Retail

Consumers are expecting more from retail, and the retail industry is bridging the gap between the physical store and the online shopping experience.

Due to the COVID-19 pandemic, eCommerce skyrocketed during the first half of 2020. Sweden experienced exceptional 49% growth in the second quarter of 2020, Finland saw a soaring 60% increase in eCommerce orders at the end of March, and PostNord experienced a 30% increase in package deliveries in Denmark.

Compared to before the COVID-19 pandemic, more consumers are now doing their shopping online. We expect that consumers will continue to embrace eCommerce and avoid physical stores, and by doing so, they will continue to accelerate a digital shift which emphasises the importance for companies to have an excellent omni-channel experience.

Five key stats from the retail industry:

Three fifths (60%) of the eCommerce consumers use a retailer’s own website when purchasing a product or service online.
15% do more online shopping (excluding groceries) as a result of staying more at home during the COVID-19 pandemic, as opposed to 9% for online grocery shopping.
After social distancing restrictions are lifted, 9% will continue shopping online for items other than groceries as frequently as they do now.
Fast login and fast payment are the most sought-after features (23%) when shopping via an app on smartphones.
Almost one fifth (19%) of the Nordic respondents indicate that they value cheap delivery the most when shopping via an app.