E Commerce Sales Up In 2020, Covid leads to higher online sales for many retailers.
If you are sat thinking about your latest idea, like many of us. Or, you have a dream to sell online. Or perhaps just want a side-gig, 2020 is the best year to start realising these dreams.
For a more affordable price than you think, you can have your E-commerce website designed, branded, and promoted by Thumbprint media and be well on your way to online success…
But, why is 2020 the best time to start this dream with the uncertainty of covid and the seemingly struggling economy?
Well it’s quite simple really. Due to covid, the amount of people turning to online sales for everything from simple toiletries to online car shopping is staggering.
E-commerce in 2020 by the numbers:
While online sales in July 2020 rose 55% to $66.3 billion compared to July 2019, their growth slowed compared to June 2019. Here, they increased 76% compared to May. Online sales also slowed in June, by 7% in the first quarter of 2020 compared with May 2020. In July, the number of unemployed people slowed again by 2%. This went to a total of 1.2 million compared to July 2020 and by 2.5% in June this year.
So, the trend is still showing a higher volume of online sales in the U.S. since the lockdown, but what about the U.K.?
well, The proportion of online spending in June reduced to 31.8% above this time last year. But, when compared with the record 33.3% reported in May, its a slight dip. However look at it this way, this is a considerable increase from the 20.0% increase before the lockdown started.
Thumbprint collects data from 18 product categories. These include e-commerce, digital media, advertising, mobile, retail, entertainment, consumer electronics, health and fitness.
Our Analytics data is based on the latest data from the U.S. Bureau of Labor Statistics (BLS) for July 2020. We also use the ONS Office of National Statistics in the U.K.
US e-commerce sales are expected to reach $709.78 billion in 2020, up 7.5 percent from last year. This is according to our analytics data. That’s an increase of $62.2 billion in the last quarter, or simply an amazing percent increase!
Andrew Lipsman, chief analyst at eMarketer, said in an interview. “Retailers, including Walmart Inc. and Target Corp., are catching up in online shopping. To gain market share in brick-and-mortar stores in the coming years, experts say.”
With this in mind, what is stopping you from having your latest idea built online? We are a Pontefract, Leeds area agency but cover projects throughout the world.
If you need local seo wakefield, or web design in wakefield, e-commerce sites wakefield, we are here for you locally or globally!
The Global Data Says it all….
Global e-commerce sales rose 28 percent from June 2019, the second-highest increase in the past five years. This rose to a record $12 billion, or 4.7 percent, after COVID 19 restrictions were introduced in March.
The most popular purchase category was outdoor equipment, up 10 percent in June from an 8 percent increase in May. Sporting goods such as sports goods, apparel, footwear and accessories also saw strong growth. This was up 7 percent to $1.8 billion. Or ,4.7 percent from June 2019, the second-highest increase in the past five years. Outdoor gear was also among the most popular purchases last month. This was up 10.5 per cent from May to June and up 7.4 per cent on May 2019.
In fact, the trading platforms worldwide recorded a traffic growth of six percent between January and March alone. While regular retail is not forecast to grow by 2020 due to the 19 restrictions that prohibit Covid’s brick-and-mortar business, online retail is growing significantly and could exceed 20 per cent.
In May 2020, the UK recorded a 20 per cent increase in shopping volumes compared to June last year, with a six per cent increase in shopping volumes compared to the previous year.
Covid’s 19 has also been guilty of inflating electronic prices by up to 20 per cent above the average retail price of an electronic product in the UK.
Electronics, computers, webcams and audio equipment are in great demand, as many consumers settle into homes, offices and classrooms so starting up a business in this area could be a good idea.
With the use of marketing techniques such as video ads animations wakefield, etc, Thumbprint can make your dream a reality.
General growth in e-commerce, coupled with increased consumer of brick-and-mortar stores closing for months, is what is driving the increase.
The growth will also be positive for online retailers like Amazon and others like Walmart, which make up a large part of the US e-commerce market, experts say.
As the economy returns to a more stable footing, the percentage of consumers returning to physical stores, a key measure of consumer spending, will rise to 6-7% in 2020, lower than the 14.4% last year, according to the report. It will remain at a similar level of 3-4% in the first half of the year and 6-7% by the end of 2020.
Meanwhile, spending in brick-and-mortar retail is expected to fall 14% annually. This will go to $4.18 trillion in 2020, down from $5.2 trillion last year. The number of people trying to “socially distance themselves” from shopping rose by 208% in the first half of the year. This is according to Lipsman Resources.
Thumbprint’s data follows other reports that suggest a huge jump in online shopping in April. For example, Bazaarvoice data, based on data from the US Commerce Department’s Bureau of Labor Statistics, shows that April was the largest month for e-commerce sales in the first half of the year.
The Thumbprint report also showed that e-commerce sales rose 74% in the first half of the year as consumers plowed through the COVID-19 crisis.
Sales of consumer goods and services such as food, clothing and electronics accounted for a whopping 80% of all online sales. This is in the second quarter of this year. This grew 74% in the first quarter, according to the BLS data.
California based marketplace eBay, which accounted for an estimated 0.8% of total growth, accounted for 1.5%. Target Corp, which offers curb pickup services, accounted for 0.732,000, or 1%, in the estimate.
While eBay is still “one of our largest marketplaces in terms of sales volume. We now see a decline in our e-commerce revenue growth rate of about 1-2%,” Lipsman said.
Meanwhile, retailers like Walmart Inc. and Sears Holdings Corp. – which have been hard hit by the hardest-hit categories of event clothing – are expecting declines in in person sales after performing below average this year, he said, but not as strongly as other retailers.
So, with all this data in mind , it seems a no brainer to start or switch your business to online sales.
After all, we bet it’s more affordable than you think! GET IN TOUCH today and see how we can help you achieve your dreams or grow your business! For web design leeds, or the world, Thumbprint are here for you.