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.
A study done by Bazaar voice showed that 49% and 62% of both global and U.S. consumers, respectively, are now shopping online more than ever before. This has prompted big and small business alike to think about strategies of coronavirus marketing, which has resulted in the utilization of approaches like SEO optimization, email marketing, social media marketing, and more. Additionally, about 36% of consumers are shopping online during any given week. According to the U.S. E-commerce Market Report, retailers in the U.S. had a boost of USD 152 billion in online sales, which would probably have been reached in 2022.
But why the shift? Are brick-and-mortar stores becoming irrelevant? Well, brick-and-mortar stores are still important, especially for the shopper who loves to view items physically before making a purchase. As technology advances, even this might not 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, accounts for 47% of all eCommerce 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!
Fundamentally, online shopping is here to stay, which means we need to reassess our way of doing business. Most notably, with the shift online, businesses have no choice but to revamp their digital marketing strategies if they want to stay ahead in the game. 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.