77% of Consumers plan to spend the same amount or more on online shopping.
The growth in e-commerce accelerated by COVID-19 will continue post-pandemic, according to the results of a new survey released today by LaserShip, the largest regional e-commerce parcel carrier in the US and leader in last-mile delivery.
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The research provides retailers with actionable recommendations on how to balance the growth in e-commerce and online shopping against rising logistics and delivery costs.
LaserShip commissioned the study from Hanover Research to survey over 1,000 consumers in the US to understand their shopping behaviors and expectations during the 2020 holiday shopping season.
Key insights from the study include:
- Online spend levels are here to stay post-pandemic: 77% of consumers surveyed will spend the same amount or more on online shopping after getting one of the COVID-19 vaccines and restrictions are lifted to be able to return to brick-and-mortar stores, substantiating the acceleration of e-commerce as a percentage of total retail sales.
- Consumers still prefer home delivery: While BOPIS (buy online pickup in store) and other forms of click and collect have emerged during the pandemic, 80% of consumers still prefer home delivery of their goods purchased online.
- Faster delivery is a differentiator for retailers and a way to build loyalty: 56% of consumers surveyed paid for some form of expedited shipping during the holiday shopping season. In an increasingly brand agnostic economy, faster delivery options can increase customer life value, especially with Millennials and Gen Z consumers whom have grown up in the instant economy and whose buying power will increase.
- Retailers need to build flexibility within their supply chains: With online spend levels here to stay after the pandemic and consumers demanding free and fast shipping, retailers need to diversify their carrier mix and mitigate delivery risk.
“The survey results provide retailers with actionable recommendations on how to balance the continued growth in e-commerce against rising logistics costs and supply chain challenges” said Josh Dinneen, Chief Commercial Officer at LaserShip. “As retail sales shift online, retailers need to learn from 2020 and build flexibility within their supply chains to overcome capacity constraints, rate increases and surcharges to continue to meet consumer expectations and create long-term competitive advantage.”
LaserShip helps leading retailers and businesses differentiate themselves by delivering their goods faster with better on-time performance while saving money. With over three decades of delivery experience, LaserShip is continuously innovating to better serve its customers through investments in technology, automation, and machine learning to increase capacity and improve the delivery experience.
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