As the retail industry continues to feel the effects of COVID-19, there are new, emerging signs that the industry is responding positively to this new normal and adapting their ways to meet the needs of consumers. Case in point: Our online order volume has more than doubled since March, fueled by consumers who have been forced to move the bulk of their shopping online. During this period, there was more than 100% growth in online order volume versus this time last year across our network of 12,000+ retailers, brands and suppliers.
It’s all too clear that for retailers it’s no longer a choice between ecommerce and physical retail. Right now, it’s about finding ways to more effectively leverage both methods to meet the needs and demands of consumers and pivot investments to where consumers are spending their money: online.
Over the last 60 days since COVID-19 forever changed the retail ecosystem as we know it, our online shopping and supply chain data shows:
- 100%+ YOY online order volume growth between April 1, 2020 and May 31, 2020.
- During the month of April, our network operated at peak holiday season levels.
- More than 98% of the 12,000+ brands and suppliers on CommerceHub’s network remained operational, processing and fulfilling online orders during this period with no disruptions.
This data is promising and is showing a resilience in the retail community that will serve us well for years to come. These trends also point to the importance of working with a reliable partner and having dependable ecommerce capabilities, which are proving to be essential for retailers as their need to adapt accelerates.
CommerceHub has invested in building a secure and scalable platform that, as our data shows, is performing as designed. Our network delivers an agile and diverse supply chain that is helping our retail partners to keep selling, maintain business continuity and mitigate distribution and fulfillment risk.