With shoppers finding much of what they want online, the future of the brick-and-mortar store can seem bleak. Such major retailers as J.C. Penney, Lowe’s, Gap and Family Dollar, among many others, have announced plans to close at least some stores across the United States this year.
It’s no surprise that 2020 was an absolutely massive year for ecommerce, with consumers spending more than $860 billion online with U.S. merchants, up 44% over 2019’s figures. It was the largest year-over-year growth for ecommerce in at least twenty years, and nearly triple the 15.1% growth rate from 2018 to 2019.
Supply chain is one of the industries that are fast evolving. The changes in this sector are occasioned by the rising demand for efficiency by the customers and the ever-increasing competition from new entrants and established players who invest in technology. The industry always evolves to meet the needs of the global demand and in return, get huge benefits. With the new year around the corner, we take a moment to look at the technologies that you may be ignoring in this industry, leading to losses.
- Most read