Online sales will account for 40% of all chain retail sales by 2026
BOSTON, November 17, 2021– (BUSINESS WIRE) – Edge by Ascential, whose technology-driven products enable brands to win in digital commerce, today released its annual Future Retail Disruption report for 2021-2022. Data shows shoppers will continue to shop online after the pandemic, and to a greater extent than before COVID – predicting that online sales will account for nearly 40% of all chain retail sales. by 2026.
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Source: Edge Retail Insight, data from September 3, 2021 (variations may occur after this point)
Latest report shows the lasting impact of the COVID-19 crisis on retail, as well as the main drivers of consumer behavior as the new year dawns, and how retailers and brands can plan and innovate for this new operational paradigm shift.
“Retailers rushed to invest in door-to-door delivery capacity, in-store pickup and in-store pickup in March 2020 and as the crisis progressed and became a long-term situation, the last mile became a field. key battle offering opportunities for differentiation and for retaining buyers, ”said Deren Baker, CEO of Edge by Ascential.
“Eighteen months later, two-thirds of retailers (60%) deliver in two hours (or more) and almost 30% of the retailers we cover at Edge Retail Insight commit to delivering within 30 minutes. These developments, along with online subscriptions, discount measures and selected assortments are helping to keep e-commerce penetration above pre-pandemic levels, ”Baker added.
In the United States, e-commerce is expected to grow 24% this year, 32% in the United Kingdom, 26% in Germany and 28% in Brazil.
The latest report highlights some of the new and updated change drivers:
With consumer confidence and tight household budgets after the pandemic, price and availability remain at the forefront of purchasing decisions, but buyers are increasingly looking for product qualities that match values.
“Each year, our Retail Insight analysts examine what we see as the key drivers of change that can disrupt the retail industry,” said Xian Wang, vice president of Edge Retail Insight. “In 2022, those who master the platforms and the new environment will be in the best position and will have a head start.”
About the report
The data and insights come from Edge by Ascential’s Mid-Year Update on Future Retail Disruption, September 2021-2022, available by subscription to the Edge by Ascential Retail Insight platform. The report was created using data from Edge by Ascential’s proprietary analytics tool, Retail Market Monitor, which can analyze the entire retail ecosystem by industry, geography and channel, and identifies growth opportunities for retailers and brands.
Referenced retail sales are calculated using Gross Value of Goods (GMV), a standard used to measure the size of a third-party market (3P). It is calculated by multiplying the number of products sold by the price at which each product was sold in a given period. Retail sales data includes both online and offline operations, and only includes retail chains, of which Edge Retail Insight covers nearly 2,500 worldwide.
Our forecasts change from week to week due to the rapidly changing market; today due to the pandemic and changing government messages around lockdowns, but also due to the rapid changes and developments in digital innovation and e-commerce.
About Edge by Ascential:
Edge by Ascential powers the digital commerce segment for brands. The world’s largest brands are focusing their local and global go-to-market strategy using retail predictive intelligence technology, advisory services, digital shelf monitoring information and share performance analysis Edge Market. We give global brands the strategy, execution and performance they need to win in digital commerce.
Ascential provides expert insight, analytics and e-commerce optimization platforms to the world’s largest consumer brands and their ecosystems. Our world-class businesses improve performance and solve problems for our customers by providing immediately actionable insights combined with longer-term visionary thinking in digital commerce, product design and marketing. We also serve Retail & Financial Services clients.
With more than 2,000 employees on five continents, we combine local expertise with a global presence for clients in more than 120 countries. Ascential is listed on the London Stock Exchange.
For more information, visit www.ascentialedge.com.
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