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Online Commerce Will Grow By 24% Due To Fashion And Food

BySam Brad

Aug 23, 2021

The coronavirus pandemic is revolutionizing electronic commerce, to the point that the Nasdaq stock index predicts that by 2040 95% of purchases will be made through this channel . Reveals the future The report of the retail in Spain, prepared by the communications group TBWA, where he also points out, citing a study by Astound Commerce (provider of e – commerce), that the e-commerce will grow this year in Spain , a 24%, driven mainly by food and fashion , despite the fact that seven out of ten consumers say that they still prefer to buy in physical stores.

The report also points out that the health crisis has accelerated the adoption of digital measures. This translates into 45% consumers buying more online than before.

In this sense, millennials (born between 1981 and 1996) are the ones who spend the most through this channel, with a rise of 15% in 2021. In addition, almost half of Spanish Internet users recognize that social networks They have influenced them when buying a product.

Record figures
According to the latest data made public by the National Markets and Competition Commission (CNMC), the turnover of electronic commerce in Spain increased by 9.3% year-on-year in the fourth quarter of 2020, reaching 14,613 million euros.

For the year as a whole , all records were broken due to the pandemic , thus exceeding 51,600 million euros, 5.8% more than in 2019 and more than double the business volume that moved on the Internet reached four years earlier. , in 2016.

The sectors of activity with the highest income were clothing , with 9.8% of total turnover; the subscription channels , with 5.1% and gambling and betting, third, with 4.9%.

If we look at the number of transactions, in the fourth quarter of 2020 there were more than 307 million, which is 26.9% more. In this case, gambling and betting lead the ranking for sales, with 7.3% of the total.

In its analysis of the big change or reset in the distribution sector in Spain, TBWA also talks about smart supermarkets . These are 15 square meter establishments that will be understaffed and will remain open 24 hours a day.

The Spanish startup Ghop has been the creator of these stores. There is already a pilot store in the Madrid town of Alcobendas and September is expected to spread through the capital. Another innovation that will be implemented in the future is the existence of interactive catalogs on all items available in stores.

With regard to delivery , eight out of ten Spaniards agree that it is necessary to create a certificate of trust for sustainable delivery, and 73% would support the Government to intervene and force companies to invest in this mode of delivery. service.

On the other hand, the study maintains that organic is expensive , since almost seven out of ten Spaniards surveyed by the NestlĂ© observatory on nutritional habits point out that price is the “main brake” when incorporating environmentally friendly products environment . Of course, three out of ten are willing to increase spending.

The TBWA study also reveals that half of Spaniards admit to having abandoned or boycotted a brand after a scandal or wave of negative news. 41% of them affirm that they are permanent breaks and do not consume the brand again. On average, the consumer boycotts between two and three brands a year.

On the other hand, according to data from a study carried out by the Sendcloud logistics platform and the Nielsen consulting firm, 63% of Spaniards have bought more in local stores since the pandemic began and six out of ten consumers would be willing to pay a small extra cost to buy in the local store if that means supporting it.

Four challenges
Those responsible for the study conclude that the retail sector faces four challenges. The first of these is that consumers, well aware of climate change, are demanding more transparency in the supply chain. Second, there is the emergence of direct-to-consumer (D2C) digital brands , which leads consumers to move away from large stores.

Third, it should be noted that there are an increasing number of shopping platforms , which is complicating the brand-consumer relationship. Finally, the growing demand for products through online sales is forcing retail to digitally transform.

Sam Brad

The Great Writer and The Passionate Poet As Well, He Graduated from University Of Florida in Journalism and Brad have around 12 years of experience in news and media section.

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