How retailers can capture $5 Trillion of shifting demand

No industry has escaped the ravages of COVID-19, but the impact on retail has been more complicated than most. The crisis has accelerated channel shifts and changed the way consumers shop. E-commerce and click-and-collect, for example, are on the rise: our research shows that more than 40% of online grocery shoppers during the pandemic are using e-commerce for the first time, and 90% of those doing more shopping online were comfortable with their e-commerce experiences. Customers are also making fewer trips to stores and spending more on each trip. In addition, they are limiting their purchases to a few trusted retailers and substituting grocery store purchases for restaurant dining. In nonfood segments, such as health and beauty, customers are planning more, making lists, and following them. Read more…