The latest webinar from gasworld.tv, Bandwidth in Your Business: Reloaded, saw Art Anderson, Managing Principal at AH Anderson Consulting, give his thoughts on the resurgence of e-commerce throughout the Covid-19 pandemic.
You can’t talk about e-commerce without mentioning Amazon, the largest e-commerce company in the world. The online giant saw record numbers in 2020, with annual revenue up 38% to $386bn and net profit up 84% on the previous year .
This was something Anderson was keen to highlight, however adding; “But B2B, our space also grew dramatically as well.”
“I think the growth rates in 2020 were up about 50% year on year and the 2021 numbers haven’t been out yet, but I would suspect that they’ll be close to that.”
On the subject of businesses moving towards digitisation and having an improved online presence, Anderson said,
“I think a lot of the late adopters finally took the plunge and made investments, in their static websites or in their websites where they just have customer portals.”
“This is to try and make them more end to end, so that a customer or prospect could actually do some research on the site, get their questions answered, actually place an order and actually track it all the way through delivery to payment, and then also reorder again.”
Staying on the theme of digitisation, later in the webinar Anderson said, “Digitalization has been around for a while, right? It’s been a bit of a slow roll to some degree.”
“It started back with remote operations and then gradually got into the supply chain, components of the supply chain and has now moved into some advanced analytics and e-commerce. And now you have all the fancy stuff with industrial IoT (Internet of Things).”
“It’s still growing.”
“The tier ones were maybe the first ones to do it because they could afford it, five, six, seven years ago - but the costs have come down to the point, where everybody can afford it.”
“As long as customers still desire more connection with their suppliers, then that points to digitalization that will continue to grow and grow and grow for the foreseeable future.”
To watch the full webinar, click here.