The pandemic has forced changes on many aspects of daily life, including how we work, live, and shop. The EY Future Consumer Index, a survey that has been tracking consumer behavior since the pandemic began, found that 80% of US consumers are still changing the way they shop. Sixty percent visit brick-and-mortar stores less often, and 43% shop more frequently online. More people are also moving away from urban areas, and many retailers have made significant e-commerce investments to survive the pandemic.
To succeed in e-commerce, retailers must consider the entire consumer journey and prioritize creating an interwoven experience that is relevant to the target consumer. While the shift toward online shopping will likely continue, the desire for post-pandemic social interaction will likely drive people back to stores. Retailers must understand that e-commerce is a key piece of an experience-led future but not the only aspect. To offer a successful journey, they must ask several core questions, such as whether they have an adaptive technology platform, whether their organizational structure is free of silos, and how they can maintain the experience all the way to consumers' doorsteps.
In recent years, retailers in Canada have been adopting an omnichannel approach to create a seamless shopping experience for customers. This strategy has proven to be effective, with many businesses reporting significant increases in their ecommerce sales revenue. Let's take a look at some retailers in Canada that have successfully implemented an omnichannel strategy in 2022.
Canadian Tire Corporation. In 2022, the company reported a 118% increase in ecommerce sales compared to the previous year. Their omnichannel strategy has allowed customers to easily access products both in-store and online. With their in-store pickup and same-day delivery options, Canadian Tire has created a convenient and efficient shopping experience for customers.
Indigo Books & Music Inc. In 2022, the company reported a 67% increase in ecommerce sales compared to the previous year. Indigo's strategy includes offering customers the ability to browse and purchase products both in-store and online. They have also implemented a buy-online-pick-up-in-store option, which has been popular among customers looking for a quick and easy shopping experience.
Best Buy Canada. In 2022, the company reported a 91% increase in ecommerce sales compared to the previous year. Best Buy Canada has created a seamless shopping experience for customers by allowing them to purchase products both in-store and online. They have also implemented a curbside pickup option, which has been popular among customers looking for a contactless shopping experience.
Lululemon Athletica Inc. In 2022, the company reported a 109% increase in ecommerce sales compared to the previous year. Lululemon's omnichannel strategy includes offering customers the ability to purchase products both in-store and online. They have also implemented a virtual shopping option, which has allowed customers to browse products with the assistance of a sales associate from the comfort of their own homes.
Hudson's Bay Company - In 2022, the company reported a 72% increase in ecommerce sales compared to the previous year. Hudson's Bay's omnichannel strategy includes offering customers the ability to purchase products both in-store and online. They have also implemented a buy-online-pick-up-in-store option, which has been popular among customers looking for a quick and easy shopping experience.
These retailers in Canada have successfully implemented an omnichannel strategy, which has resulted in significant growth in their ecommerce sales revenue. By offering customers a seamless shopping experience both in-store and online, these businesses have created a competitive advantage in the retail industry. As consumers continue to demand more convenient and efficient shopping options, it is likely that more retailers in Canada will adopt an omnichannel strategy in the coming years.