As the country slowly comes back to the workplace, there are lasting impacts on society and a view of the Next Norm has started to emerge. Specifically, it is becoming increasingly clear that the biggest winner is e-commerce, home delivery is here to stay and some products will be more sought after than others.
Recently, traditional importers have been reevaluating their markets, determining who the long-term winners and losers of the coronavirus crisis are and adjusting their orders based on those determinations. Early indications show that anything used in the home or garden are absolute winners, while businesses specializing in holiday and travel have experienced declines.
“Keeping track of consumer trends has become critical for us to understand where the markets are going,” said Anthony Fullbrook, U.S. East Region President here at OEC Group. “This allows us to adequately prepare for any significant or rush shipments and ensure that the supply chain is clear for these products to be transported.”
However, the trend that shows the most significant growth is e-commerce as the long-term trajectory of its ascendance has been accelerated and shows no sign of slowing down. OEC expects its new gains will be permanent, as many consumers have learned to shop more effectively online and are willing to give up the immediate satisfaction of buying a product for safety and convenience.
“While e-commerce’s recent rise may have been caused by stay-at-home orders, its new gains will likely be lasting,” said Mr. Fullbrook. “This is an area that bears close watching as it has the ability to completely alter how business is done. Nevertheless, the increasing power of e-commerce and the new spike in factory orders are already showing us that the last quarter will be extremely busy.”