Digital commerce has seen an uplift of 14.5% in comparison to the first quarter of 2019, with $146.47 billion spent online, the U.S. Department of Commerce Data reveals. However, this data only captures two weeks of the COVID-19 outbreak, meaning the true impact of the pandemic is yet to be seen – with Q2 likely to show an even bigger growth in eCommerce.
Digital Commerce is no longer a secondary channel
While the first quarter started consistently with prior years — with digital traffic and sales evening out after the holidays — things changed once the virus began to spread. In particular, there was a 41% spike in digital revenue during the final 15 days of the quarter.
With the increase in demand, along with the shuttering of stores and distribution centers, we started to see some of the retailers struggling to pivot their operations and adapt to the more traditional eCommerce model of “pick, pack, and ship of orders”. Some scrambled to accelerate and retool supply chains to offer curbside pickup, drive-through, and home delivery for a contactless last mile. Those who had robust Digital Channels were able to more quickly adjust and deliver for customers.
So in general terms, what we saw during the first few weeks as the world went into lock down was: eCommerce centric businesses thrive, businesses with robust secondary digital channels adjust, and business with limited to no digital capability, come to a near complete stop.
So although predictions are that digital spending will level off some as we move out lockdowns. The expectation is that some consumers will continue to operate in a risk-averse mode once shelter-in-place mandates are lifted and over time, purchasing behaviors formed during the crisis will remain. Digital Commerce is no longer a secondary channel
From Frictionless Checkout to Accurate deliver of goods, Loqate helps partners deliver
As the sector continues to grow, so too do customer’s expectations of a frictionless checkout and rich customer experience (CX). With businesses focusing on growing their digital capabilities to adapt to the current customer needscompanies must accelerate and scale their ability to do business online and “pick, pack, deliver” goods to customers when, where and how they prefer.
If digital channels where highly desirable before the pandemic, they are now of critical importance to the health and growth of any business. McKinsey & Company wrote in a recent COVID-19 Briefing note that successful transition to the new normal requires companies to “respond in three ways: digital excellence, safe and contactless engagement, and dynamic customer insights.” The dilemma is, how can businesses connect with physically remote customers in meaningful ways? Interactive, personalized engagement driven by data, content, and intelligent automation can make that connection. Loqate partners can integrated its global Address Verification and Geocoding APIs into their applications to remove friction during checkout, deliver exceptional customer experiences and continuously update and enrich their address databases.
Having a robust digital commerce capability requires the ability to capture, verify and maintain vital customer data such as addresses. Creating that 360% data view of customer to fuel digital operations is inherently incomplete without an address. At Loqate, we are experts in global Address Verification and Geocoding so our partners don’t have to be.
Loqate Premium Address Data
Address data is a critical attribute to any customer record, but especially in eCommerce. At Loqate, we are continuously curating the best global address and location data on the market by combining multiple sources of data from official postal authorities and geospatial provider to create a single best reference record used by our address capture, verification and geocoding technologies.
Our proprietary data curation process, Persistent Data Hierachy (PDH), delivers superior and continuously updated reference data for all countries and territories in the world. Combining our premium global data with our leading addressing technologies is why the world’s leading software and technology companies are partnered with Loqate.
When it comes to creating an effective eCommerce capability, delivering a seamless, fast and rich customer experience is paramount. From the first touch point all the way through to delivery, a multitude of interconnected applications and data attributes are needed. With Loqate, partners have their address and geocode data covered.
Loqate Partners Are Location Data Experts
Loqate enables its partners to deliver the best product to market, increase customer satisfaction and grow revenue by fully utilizing its market leading location data solutions. Our partner program is designed to allow our partners to offer, build or enhance their location-based data solutions across a variety of applications, leveraging our market-leading address verification, predictive type-ahead technology and geocode products.
Loqate’s complete solution is comprised of two products, setting it apart from any other data solution on the market. Additionally, the partner program is adaptable, tailored to specific business requirements via Embed, Implement, Resell, and Refer capabilities.
Wide-ranging partner benefits, comprehensive training assets, and our exclusive Partner Portal provides a robust community of resources for our partners and accelerates how we support them globally.
To find out more about the partner program, contact our dedicated Partner Team at firstname.lastname@example.org.