All over the world, commerce has been turned upside down by the big platforms, which have become distributors of all types of products and services: from consumer goods through to finance and healthcare.
There has been a two-pronged movement: these giants have been buying up physical networks (Amazon/Whole Foods Market), while physical retailers have invested in the Internet (Casino/Cdiscount, Carrefour/Rue du Commerce).
In China, ‘super apps’ now account for half of all e-commerce, offering a mix of social networking, marketplace and teleshopping-style online shows. But these changes don’t mean we have heard the last of traditional outlets, thanks to drive-through and click-and-collect; lockdowns have reinforced their shift towards storage and online order picking.
These retailers will reduce their physical footprints, due to the cost of leasing property, but will extend their roles to include advice, assistance and experiential marketing. The rapid development of the circular economy and second-hand market is also helping to put them back in the game, closer to the ‘phygital’ consumer.
Elisabeth Menant
Service Innovation Analyst / BNP Paribas Personal Finance Exchanger
Key figures
In France in 2020:
- 4%: share of e-commerce in sales (+3.6% in one year).
- -18%: drop in activity of specialised stores.
- -7%: decline in household consumption (+6.4% expected in 2022).
Sources : Fevad, Procos, Insee, Banque de France
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