Page 28 - Grapevine NovDec 2021

In The Winery

as to how the pandemic left a lasting impact on the “The U.S. has been lagging behind much of the
industry. world in Omnichannel retail offerings, obtaining
less than 10% of all global e-commerce sales for
The Lasting Impact of COVID-19 the WS industry compared to China’s roughly 25%
on the WS Industry share,” says Jay.

In describing the ways that Omnichannel retail In these matters, Jay’s predictions may not be far
marketing has affected the WS industry in recent off from aggregated industry data. For instance,
years, Jay also mentions the historical lack of according to McKinsey’s 2021 Consumer Report,
innovation - particularly technological innovation - e-commerce sales in the U.S. were projected in
within the industry. In mentioning this, it begs the 2019 to reach 24% of all retail sales by 2024. This
question as to just how innovation, both during the projection later increased to 33% by June of 2020
pandemic and immediately following it, will evolve after the onset of the COVID-19 pandemic, seeing
both for businesses and consumers. larger growth in e-commerce retail across the U.S.
in six months than it had over the past 10 years.
“Many WDBs and other businesses in this industry
aren’t necessarily at the forefront of innovation, “As we continue to emerge from the pandemic,”
especially when it comes to growing their mar- Jay continues, “I expect many more businesses
ket share,” Jay says. However, as Jay continues in the WS industry - especially WDBs - will begin
to explain it, the writing is literally on the wall for offering or broaden their offerings regarding
the continued growth of Omnichannel retail, given Omnichannel retail as more American consumers
the industry’s historical customer demographics, opt for D2C retail channels.”
current and emerging technologies, as well as the
ever-evolving nature and growing competitiveness What’s Next for the WS Industry
of the WS industry’s supply chains.
As a result of the COVID-19 pandemic, every

Page 26 The Grapevine • November - December 2021 877-892-5332

Grapevine Main Pages GV111221_Layout 1-1 .indd 26 10/26/21 3:43 PM