Zara's owner is investing $1 billion to grow its online shopping business as the pandemic pushes more consumers online longterm
- Zara's parent company, which owns several other brands, is investing $1 billion to boost its online shopping platform over the next three years.
- The company said it expects online sales across the group to account for 25% of its overall sales by 2022.
- Analysts say even as stores begin to reopen,
e-commerceis going to become a more important part of retailin the wake of the pandemic and that retailers should be preparing for that.
Inditex, the parent company of
Inditex, which has nearly 7,500 stores across the world, has expanded at a rapid rate over the past decade and a half opening stores in 96 different countries.By the end of the first quarter, only 965 of its stores were open during the lockdown and during that time, online sales increased by 95%; online sales were up 50% overall during the first quarter.
Before the pandemic hit,
"Never since the dot-com boom has digital commerce been so front and center," a report conducted by Forrester and BloomReach about the realities of e-commerce in 2020, which was published on Tuesday, wrote.
It continued: "Digital channels for consumers and businesses have been maturing for more than two decades, but the
"Online sales are likely to remain more highly penetrated than they were before and this is something brands will need to assess," he said.
Saunders stressed that retailers that offer a strong omnichannel experience are best positioned now. "The losers will be those retailers that are less adept in multichannel and which have large store estates which are increasingly irrelevant," he said.
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