SIGNALS: GROWTH PLATFORMS FOR A COVID-19 IMPACTED WORLD (04 OF 11)
Covid-19 restrictions have prompted new levels of online shopping take-up and innovation, accelerating a shift that was already underway.
In North and South America Uber is acquiring Cornershop, a personal shopping and delivery provider. And in Paris, due to Covid-19 conditions, Uber is offering grocery deliveries from Carrefour within 30 minutes (1).
This 20:20 Shopping Growth Platform is upon us ahead of schedule!
Now we’re seeing Livestreaming; Facebook Shopping; 30-minute delivery; Predictive Carts; Biometric Shopping; Blockchain Provenance; Friction-free Delivery; Haptic Interactions; New Experience Retail; Shoppertainment.
In China, where the 2002 outbreak of SARS paved the way for eCommerce giants like Alibaba and Taobao, the Livestreaming industry surpassed $61bn in transactions in 2019 and is projected to reach $129bn in 2020 due to the coronavirus pandemic (2).
We are starting to see the real potential of online retail to radically change how we think about acquiring the things we buy.
The retail ‘plates’ have shifted. They ain’t shifting back!
It is plausible that as other Growth Platform scenarios such as Hybrid Living (society switch between inside / outside) and Immunity Quest (managing your personal ‘health bubble’) take hold, people will want to maximise the enjoyment of their time outside.
That may not include driving to stores and lugging bags and boxes home in your car.
Retail technology and more fluid mobility options are opening people’s desire for super-charged convenience; where almost any product is immediately available to experience and acquire here and now.
We see three 20:20 Shopping strategies accelerated by Covid-19 restrictions:
Ubiquity: Shopping access, product experiences and delivery fulfilment will be ubiquitous. Everywhere, always will be the expectation.
Shortcuts: How many clicks or voice assistant commands does it take to experience and buy?
D2C: As access becomes seamless, an over-reliance on retailers will mean missing buying opportunities