The COVID-19 pandemic sparked a huge growth for online sales, and ecommerce growth is expected to continue even after the economy opens back up. Consumer trends in the online market may actually stick around, as the list of benefits for buyers gets longer.
Within the first 100 days after the pandemic started, online spending skyrocketed to more than $80 billion dollars in a month, an increase of roughly 75 percent from the last year, according to an Adobe report released in 2020. That same report also said that it could have taken six years to see that level of growth had it been constant from the previous couple years.
Last year’s holiday season totaled nearly $190 billion from ecommerce, and that boost to online business between March 2020 and February 2021 showed more than $840 billion spent online. Adobe forecasts even further growth to ecommerce sales, and current growth rates could bring in upwards of $900 billion for the 2021 calendar year.
A change in our daily habits forced some of these trends to shift. With more people working from home, and families spending more time indoors, online sales for home improvement products grew 60 percent in the first two months of this year. Meanwhile, apparel sales grew only 22 percent, lagging other major categories.
Shopping for groceries online has also taken off. Compared to pre-pandemic stats, online grocery shopping grew by 230 percent. Choosing to spend less time in store also meant that sporting goods saw a 75 percent growth for online sales.
Another option to avoid crowds involves buying online, and picking up in-store. Also referred to as curbside pickups, shoppers found this method to be a safer way to do their shopping and to avoid delays in shipping. The growth for curbside pickup went up 67 percent, and Adobe says that roughly 30 percent of all shoppers prefer in-store pickup over standard delivery.
Even though growth of ecommerce sales rose dramatically from 2019 to 2020, and more so from 2020 to 2021, the pandemic produced a rare change in online spending, and it will continue to climb higher still. It is expected that 2022 will be the first trillion-dollar year for ecommerce.
Growing your business can happen more quickly if you can follow these trends from the past 12 months. UpPayment can guide and mentor you through the process, and will give you the time and guidance you deserve.
At UpPayment, our consultative process empowers your company and outfits it with the solutions that deliver superior efficiency, security, and financial benefit. Call us today at (616) 201-4757 and ask about how UpPayment can support your growth, protect your enterprise, and put you on a solid track to success and profit.
