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What Does The New Normal Look Like For Online Retailers?
In the post-pandemic world, eCommerce is still considered a reasonably safe bet. However, as consumers return to “normal” shopping habits and previously unforeseen circumstances, such as the cost-of-living crisis, and ongoing problems with the global supply chain, hit consumers and retailers in the pocket, it’s important to be realistic about the shape and size of the opportunity.
Many of our clients saw their businesses grow at unprecedented levels during the nearly two-year cycle of lockdowns and restricted high street shopping. Some believed this trend was the “new normal” and were shocked to see their online sales falling off a cliff when restrictions were relaxed.
Ecommerce is Still a Growth Industry
The good news is that eCommerce is still a growth industry. This is perhaps best illustrated by a graph shared by Shopify CEO Tobi Lütke in a blog post explaining how the eCommerce platform overestimated the size of the opportunity leading to the company being forced to downsize its workforce by 10%.
