COVID-19 was one of the defining moments of 2020, and its impact on how we connect, work, shop and entertain ourselves still reverberates today. One of the most profound shifts we’ve seen during the global pandemic is the significant and almost immediate acceleration in ecommerce. According to Adobe’s Digital Economy Index, the pandemic gave ecommerce an extra $183 billion boost in the U.S. within the last year, as consumers flocked online to meet their daily needs and mitigate the spread of the virus. And, as significant as the changes were on the consumer side, the shift to digital among companies serving business buyers was even more dramatic. According to a McKinsey report, 85 percent of business-to-business (B2B) companies shifted their models to include digital commerce in 2020.
In today’s digital economy, the idea that brands must better understand their customers’ path to purchase and provide a compelling shopping experience is no longer a competitive advantage — It has become table stakes whether you’re a direct-to-consumer (D2C) or a B2B brand. In order for brands to thrive and win at customer experience management (CXM), it’s imperative that they seize the opportunity now to invest in ecommerce capabilities that will enable them to anticipate and understand their customers’ needs as well as address their pain points.
At this year’s Summit, we’re announcing new capabilities for Adobe Commerce powered by Magento (formerly Magento Commerce) that extend the intelligence of features like Product Recommendations and Live Search. An upcoming integration with Adobe Sign means a more seamless commerce experience for any transactions that require e-signatures as part of the checkout process. Lastly, a new financial solution with Wayflyer enables merchants to focus their efforts on taking control of the businesses and accelerating growth.