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on June 24, 2020 by Hayley Bradway in Fulfillment, Marketplaces, Press

Forbes Feature: How We Shop Now Will Shape The Future of Modern Commerce

WBX Commerce CEO Marcus Startzel was recently published in Forbes Magazine. Our New Shopping Habits Are Reshaping Modern Commerce outlines an unprecedented moment in modern retail.

Consumer shopping habits have shifted. How brands survive will be determined by their willingness to embrace a modern commerce approach.

COVID-19 immediately changed the way we do everything — from staying in touch with friends and family virtually to the way we shop for basic necessities. Even as the country begins its tentative reopening this summer, these shifts have created new, lasting consumer behavior.

Even before COVID-19, ecommerce had been a booming trend. But the recent push to all things online shopping has sped up the adoption curve, affecting consumer behavior across demographics. From January to March of this year, the WBX Commerce platform saw:

  • Purchases made by women increased 170%, and those made by men grew 152%
  • The 65+ demographic demonstrated a 195% increase in e-commerce activity
  • Married household purchases increased 168%, and single purchases increased by 132%

This shift doesn’t stop with consumers. It affects businesses too. Businesses today have been forced to adapt quickly to this change in circumstance and consumer behavior. Brands that just months ago used to find themselves reliant on foot traffic have prioritized their ecommerce strategies.  Meanwhile, even Amazon and the carriers have struggled to keep up with increased and steadily rising demand.

As early as March 12, we started seeing some brands experiencing ecommerce sales volume more typical of Black Friday or Cyber Monday, traditionally the largest e-commerce shopping days of the year, by 150%. But this wasn’t a one-day spike—it has been sustained, a steady march, and now it’s part of an unprecedented trend.

This moment in modern retail history is unprecedented, and there is no playbook for dealing with it. What remains constant in this moment of turbulence is that the customer is central to the commerce experience. But what is different now is that the explosion of choice consumers are suddenly faced with creates new challenges for businesses to grapple with. More than ever, brands and businesses must be nimble in a constantly changing environment. That means embracing a modern commerce approach.

Our CEO Marcus Startzel recently wrote an article explaining this shift to modern commerce. To read the full article from Forbes Magazine, click here.

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