Ecommerce was already a fast-growing industry at the beginning of 2020. Now it’s experiencing an unprecedented boom as billions of shoppers seek to replace their physical shopping carts with virtual ones. What’s more, customer loyalty has been uprooted and is now up for grabs. A study by McKinsey & Company found that consumer behaviors have changed drastically across the globe with extremely high numbers of consumers having tried new shopping behaviors, including purchasing products from new brands, in the past few months. These changes are creating new opportunities but also increased competition. As a result, companies have been investing in…
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