While we're certain to see a new type of normalcy post-pandemic, the question we're wrestling with here at Flair right now is what type of lasting impact COVID-19 will leave on the world of e-commerce.
In April 2020, e-commerce retailers reported a whopping 68% increase in year-over-year sales, and the categories that surged are a close reflection of the general consumer mindset:
So our questions are this: will these consumer trends continue or will new buying patterns emerge? What should e-commerce companies be doing, right now, to make sure they can make it through these turbulent times and survive one we're on the other side?
Of this, we're certain: both in the current market conditions, and going forward into an uncertain future, the brands that survive will be the ones that are willing to change tactics, update strategies and even alter the fundamentals of their business. In short, they're the ones who will be agile and able to adapt.
Let's look at five ways that e-commerce can adapt to changing conditions to not just survive, but thrive.