When we first heard of the Coronavirus, no one would ever have guessed the impact it was going to have on our economy, especially our online economy or e-commerce. With social distancing and work-at-home arrangements having been the norm for a while now, Amazon online shopping and eCommerce platforms have emerged as the shopping method of choice for most consumers. In 2020, eCommerce sales rose by a whopping $861. Pretty impressive, right? If you think it is, here are some more statistics to show why there is a growing online shopping trend.
But why the shift? Are brick-and-mortar retail stores outdated? Yes, at least in the old way. Well, brick-and-mortar stores do exist, particularly for the consumer who desires to see for themselves first before they buy. As technology advances, this might not even be an issue in online channels. That aside, online shopping offers a level of convenience that brick-and-mortar stores can never do. In fact, 62% of consumers in the U.S. reported that they are guilty of cart abandonment. Different reasons could prompt this, but generally, it’s never a good thing for a store’s ROI.
Amazon, the most popular online shopping platform and easily undisputed leader, accounted for 47% of all e-commerce sales in the U.S. in 2020. This figure is expected to rise to 50% in 2021. Amazon is fueling the growing online shopping trend for a good reason. The platform gives customers access to not only the best prices and deals but also fast and reliable shipping times and more.
Even the grocery sector is seeing a growing online shopping trend. A year ago, only 39% of consumers said that they shopped their groceries online. With the onset of the pandemic, this figure has risen to 79%. If this doesn’t convince you that there is a growing online shopping trend, then not much else can!
Essentially, online shopping is here to stay, and so we must revamp the way we do things. Most importantly, with the internet, companies have no choice but to rebuild their online marketing campaign if they are to remain in business.
If you feel this is something your business needs growth in, OCGnow can come to your rescue. Give us a call at (904) 600-3600 today, and we can ask the right questions to find the right solution for you and help you claim some of the benefits of the growing online shopping trend.