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Kaya Biz looks at how a year of lockdown reshaped online retail

How can we forget 2020 and the disruption it brought? Living in the midst of a pandemic that had just hit the country, sending us into a nationwide lockdown meant that life as we knew it was over.

 

From the panicked scrambling of toilet paper purchases and tinned food supplies to the sophisticated convenience of navigating online shopping without having to leave home, one year on the pandemic environment has seen marked changes in the way we shop.

 

In the space of a few months, contactless shopping and payments became mainstream, eCommerce became a key driver of revenue, and new sanitation rules and protocols part-and-parcel of daily routines.

 

McKinsey found the sector experienced 10 years of growth in just 90 days. Similarly, IBM’s US Retail Index, found the pandemic accelerated the shift away from physical stores to digital shopping by roughly five years.

 

Listen to Gugulethu Mfuphi’s insightful interview with Chris Olsen, Chief Operating Officer at Payflex:

Feature image:  Sora Shimazaki from Pexels

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