We know digital sales reached the epic levels of customer adoption during the pandemic. But as the pandemic restrictions are lifting and physical stores reopening, the long-expected rebalancing between digital and physical commerce is now seen.
Data shows that Online sales and order volumes are down all across Europe, while in the UK, online sales declined by 9%, and order volume fell by 24%.
The supply chain disruption is causing the rise in inflation, which is ultimately affecting customer spending behavior.
Apart from that, geopolitical instabilities are also reasons for the dip in consumer optimism.