The Acceleration of Digital Transformation and E-commerce Adoption
The world is not as it was just six months ago. Certain trends have immensely affected the way business is conducted in 2020/21 – for both B2B and B2C. eMarketer stated that ecommerce is poised to grow 18.0% following a 14.9% gain in 2019, further presenting evidence of the “digital shift”. A significant amount of new consumers in the US are joining the online retail space and as a result, businesses who had already made the digital shift, are reaping the benefits.
E-commerce Adoption Shifts
What’s important to think about is how exactly this digital shift is influencing business.
Amazon announced in September that they are hiring 100,000 new workers to help manage a rise in online orders during the coronavirus pandemic.
From the B2C side, there has definitely been a shift from retail to online. Events from this year have really kicked things off for the food and grocery industry. Many people today prefer not to leave the house and are now finding alternative ways to obtain food remotely. As a result, grocery retailers are racing to meet demands in terms of remote services. Another example is the real estate industry, that adapted by conducting virtual open houses, something that was almost unthinkable before and is now becoming mainstream. Telemedicine has been around for over 20 years with various initiatives, but all of a sudden, in a matter of a few days during the beginning of Covid-19, it has become a mainstream, preferred offering.
More companies are looking toward trying to move in the direction of “we’ll come to you”, instead of the consumer coming to them. Many businesses who offer products or services now need to start shifting their mindset to: if people do not want to go into crowded places, into closed spaces, into traditional retail, then how do we adapt and provide tools, mobile apps and services to consumers easily?
On the B2B side, it's a little less obvious. Most B2B companies are not on a more personal level of interaction with their end users. However, the ability to do complete remote interaction with a client, especially in the areas of field service or where we were accustomed to go into places all the time to do things, to inspect things, to check inventory on sales, to provide training to salespeople, can effectively be done remotely.
All of these shifts are more of an acceleration. Previously, many of these trends were happening slowly. Now, people have created a digital shift that has gone into hyper drive due to working more remotely, buying more online and interacting more indirectly. Adopting e-commerce is now at the top of the list, for many in regards to technology priorities.
Would you like to learn more about e-commerce options from Microsoft for your organization?
Watch this webcast: Introducing New Microsoft e-commerce Solutions for B2C and B2B. Learn about Microsoft's e-commerce roadmap and architecture, discover what's available now for B2C commerce, as well as what's coming in the near future for B2B, see a Microsoft B2C e-commerce informative demo.