According to a report that was recently released by Adobe’s e-commerce division, the COVID-19 pandemic has boosted U.S. online shopping by $183 billion. This figure represents the increase in online shopping during the months of March 2020 through the end of February 2021. The report also revealed that online shopping during the calendar year of 2020 alone was up 42% over 2019. This significant increase in e-commerce is unsurprising, as consumers were faced with stay-at-home orders while many retailers closed their doors.
However, Adobe’s report also reveals that the pandemic itself produced a “rare step change in online spending, equivalent to a 20% boost.” For example, not only is online shopping during the first two months of 2021 up 34% over this time last year, but the buy-now-pay-later method has jumped up 215% year over year, with orders that are 18% larger.
Additionally, the firm expects that current growth rates will continue, leading to 2021 calendar year sales of somewhere between $850 billion and $930 billion and 2022 delivering the first trillion-dollar year for U.S. e-commerce. (TechCrunch, 03.15.21)
The shift to digital has significantly accelerated during the COVID-19 pandemic, giving many brands the excuse needed to adopt an online presence or improve an already existing one. If you’d like to see how revealing the voice of your consumer can elevate your customer experience, schedule a free consultation today.