Innovation is coming faster to digital economy
More people are shopping online than ever before and it will increase the speed of innovation in digital commerce. Ecommerce as a percent of retail sales has risen steadily over time and the recent changes in shopping habits as a response to the covid-19 pandemic will cause the biggest increase yet.
The shift is most prevalent in grocery shopping, and it's difficult to secure times due to the demand. While logistics have held up well, there is a sudden need for innovation. Rather than waiting another 3-5 years for the demand to build up, it's here now - and won't go away.
There are reports nearly every day of food & logistics companies continuing to raise venture money. Large companies will re-prioritize in light of recent changes.
It's a really difficult time in the world - and it's exciting to think about the innovations coming to to the digital economy.