Published May 24, 2021 12:00 am
2020 was a challenging year for many Australians. Unprecedented circumstances arose as a result of the COVID-19 pandemic. Many businesses took a hit seeing sales plummet. Some downsized, made redundancies, or shut permanently. Companies were forced to send workers home, with many losing their only source of income. With a shrinking workforce, some turned to government programs like JobKeeper and JobSeeker, just to make ends meet.
However, in spite of all of this, according to data provided by the ABS (Australia Bureau of Statistics), since the outset of lockdowns in early 2020, online retail sales have taken off like a rocket-ship. What is the reason for this unexpected, almost paradoxical trend? And what important lessons have we learned since, almost a year on?
The pandemic has undoubtedly wreaked economic damage not only in Australia, but on the global economy as a whole, adversely impacting many countries around the world. According to the IMF (International Monetary Fund), the final bill could total $28tn (trillion) in lost output. Unfortunately, even with vaccine roll outs, many governments and health organizations believe that, at least for the time being, some of the conditions caused by the pandemic, in one form or another, may be here to stay.
Ongoing restrictions and intermittent lockdowns could potentially be a part of everyday life for the foreseeable future, as they prove useful tools in mitigating risks and containing outbreaks. Given this, how can businesses today not only prepare for such unpredictable times ahead, but also position themselves to take advantage of the new ways in which consumers themselves are adapting?
EIZ specialises in eCommerce fulfilment technologies and has been busy working with online retailers since 2018. Whether you are a traditional business with a mix of physical and online stores, or a purely online seller, continue reading to learn how our multichannel order management and shipping technologies are maximising exposure to customers online, while driving competition among carriers to keep shipping costs low.
It is no secret that growth in eCommerce has continued to tick up year-on-year, even prior to the pandemic. However, given the present environment we find ourselves in, investing to increase your business’ exposure to online sales may prove more crucial than ever. Instead of it just being a better way to deliver value and convenience for your customers, your level engagement may not only have a more profound impact on your sales, but the survival of your business may also hinge on it. With more people now working remotely, and the likelihood of future untimely restrictions and lockdowns, especially in crowded locations such as stores and shopping centres, eCommerce is quickly proving the safest way to shop.
On the other hand, consumers continue to take advantage of the best offers and most competitive prices, by shopping around from a range of online competitors. Uncertain times and more demand have given rise to an increase in the number of merchants in the eCommerce space now competing for the same consumers.
At the heart of our products lie two core features:
Our Advanced product offers control of every stage of fulfilment, so you remain in complete control. This list is extensive, including: advanced multichannel order management, shipping carrier integration, warehouse management, channel management, product and listing management, pick-and-pack, and label generation.
EIZ offers an unlimited 30-day free trial to our Advanced platform, with a range of very affordable pricing options to chose from after your trial ends, designed to support you as you scale.
“Retailers recognise that they have to be where their customers are, and many no longer rely on just one or two marketplaces or sales channels.”
– Why multichannel eCommerce solutions are even more important during a pandemic (source: EIZ Pty. Ltd.)
According to data provided by the ABS (Australia Bureau of Statistics), online retail sales began to abruptly take off around the time of March-April lockdowns in 2020.
A seasonally adjusted series between October of 2020 and the same time a year before, October 2019, saw a whopping 70.8% increase for just this one month alone. Coinciding with the shift to online purchasing at the outset of the COVID-19 pandemic in Australia, total online sales has averaged an annual rise of 67.1% from March to October 2020.