We will use your email address only for sending you newsletters. Please see our Privacy Notice for details of your data protection rights.
The closure of more than 750,000 business when the first lockdown was imposed on March 23 drove the highest number of new e-commerce offerings over a eight-month period.
The migration of independent businesses to online platforms has prompted huge growth in online retail over the period of the nationwide lockdown, according to a report published by online marketplace DownYourHighStreet.
But with the new lockdown restrictions forcing about to 363,000 specialist shops to temporarily close in the run-up to Christmas, retailers will miss out on one of the biggest sales weeks of the year.
The report highlighted a shift in consumer habits, notably a drop in loyalty to brands, increased ease in answering questions about themselves, and a sharp rise in online shopping.
But as more companies adapt to the pandemic, one question remains: Which newly developed behaviours will stick in post-pandemic times?
The report concluded the following likely outcomes; a permanent flight to online platforms for retail, the need for hygiene transparency and a return to basics and value.
Sectors which have prospered as a result of the pandemic include Technology, Biotech and Pharmaceuticals, Work From Home Firms and Online Retailers.
The Centre for Retail Research report for vouchercodes.co.uk predicted online sales will be nearly £2bn higher at £5.8bn while stores will miss out on £3bn of business, to take just £1.7bn, an outcome which has in return seen a spike in demands for delivery companies.
Online sales were up 61% in the first week of November compared with the same period last year, according to the internet industry body IMRG.
The figures indicate November is well on track to be a record-breaking month for online retail, the result of a combination of Black Friday discounts and coronavirus restrictions.
Source: Read Full Article