Black Friday and Cyber Monday 2020 are behind us, and they revealed several staggering statistics. Black Friday in-store shopping tanked by 52% while online spending surged 22%. Cyber Monday sales were expected to reach $13bn – a 60% increase from 2019’s $7.8bn. Yes, the pandemic has driven the dramatic increase in the shift to online shopping; however, a 60% increase is clear evidence consumers are ready ($$), willing (informed) and able (access) to fully embrace the online channel.
The online channel is creating new purchasing habits and consumer expectations in every marketplace. Experienced managers know the chirp of a canary in a mineshaft when they hear it, yet only an estimated 20% of gases and welding supply distributors have extended themselves to include a digitalisation strategy. For the other 80% of distributors, evaluating and implementing digitalisation initiatives in 2021 needs to be a priority.
When Having a Dedicated Website is Enough – Ten years ago is when. Given the expectation of today’s consumer, your digital strategy cannot afford to be limited to the notion your website is the current replacement to yesteryear’s Yellow Pages. (If this is you, there’s an 800 number for you to call.)
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