There is no doubt that one of the ONLY things in common across all clients and industries is that e-commerce has exploded. One client was prepared to take advantage of the opportunity and grew e-commerce sales almost 300% during COVID. In another example, online shopping has experienced a 40% surge. Of course, this e-commerce and drop ship increase has led to warehousing and last mile challenges. UPS and FedEx have added and/or announced surcharges, and they expect a record-setting peak season. DHL e-commerce expects a 30-50% increase this year. Not only is a larger peak season expected, it is also expected to last longer. Listen to our video on what’s happening with e-commerce. Are you prepared to take advantage of the opportunity?
What Should We Consider and/or What Impacts Could Arise?
Simply take stock of how e-commerce could impact your business, whether you are taking advantage of the opportunities and whether you are prepared for future opportunities.
- How e-commerce could impact your business – Clearly, start by considering whether it might make sense to ship to end customers directly. If so, get your systems and marketing infrastructure in place ASAP before you miss the boat. However, if e-commerce doesn’t apply to your business, it will still impact you. Do you use FedEx, UPS, DHL or packaging carriers? If so, your rates and availability will change. Even if that isn’t the case, you will be impacted. e-Commerce is impacting global transportation systems, the need for warehousing improvements and WMS systems and much more.
- Are you taking advantage of the opportunities? There isn’t time to waste. If you have e-commerce opportunities, do not delay. If you do, your competition will be there to take advantage of them, and a year from now, you’ll have spent a bunch of money with no potential customers in your pipeline.
- Are you prepared for future opportunities? Are you thinking about changing customer buying behaviors? If there is one thing that is certain, it is that business will not go back to ‘normal’. Instead, there will be a next normal. Will you be ready for the next normal?
Read more about these types of topics in my eBook, Future-Proofing Manufacturing & Supply Chain Post COVID-19. Gain ideas and strategies to successfully emerging from coronavirus and thrive long-term. If you are interested in doing an assessment and rapid roadmap tailored to your company, please contact us about this new service offering.
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