The use of the e-commerce market has largely accelerated in the past year, mostly as a result of the COVID-19 outbreak. Companies were quick to act in either starting a whole new website for their shop/ service or to enhance the features of an already existing one. This comes as no surprise, as statistics demonstrate a market revenue of $2.43 trillion in 2020, predicted to reach $2.7 trillion in 2021.
A large part of the generated amount can be seen coming from fashion and toy retailers. It is highly possible that the trend of e-commerce use will only continue to increase, even after high-street retailer can re-open their physical stores. Shopping could not get any easier, as your delivery could reach you the next day, and if not satisfied, you can return it with ease.
However, not all businesses see the benefit of joining. High-street retailer, Primark, has been refraining from entering the e-commerce market for quite some time. Of course, prior to the pandemic, there was no real need for the company to go online, as their physical stores maintained a sufficient level of success. Their resistance is due to a number of reasons, including the high costs of starting and maintaining an online site. Nevertheless, it is possible that the way we shop has been changed forever.
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