67+ Shocking eCommerce Stats Your Agency Needs To Know In 2021
Let’s just say that 2020 was wild year. With a global pandemic and everyone around the world being locked inside their homes, eCommerce saw a massive spike in growth.
This video by Shopify outlines the 5 major trends facing the eCommerce industry in 2021:
Spikes in growth don’t go unnoticed very long – and with the rabbid demand for online products, the competition has heated up too.
Major retailers are now joining in on the action to get a slice of the pie.
So the question is – is it still worth getting into eCommerce, or has the opportunity already passed?
Our goal here in this guide is to arm you with the knowledge and facts you need to make the smartest decisions for your business, and if you’re an agency that manages clients, to give you the tools you need to professionally guide your clients through some important decisions.
eCommerce Growth in 2020:
With global lockdown measures going into effect in March 2020, the world saw total retail sales drop nearly 18% between February and March.
However, eCommerce sales nearly doubled over the same period, ushering in an explosion of business and a new era of commerce.
eCommerce Sales Soar To Record Breaking Highs
It is no secret anymore that eCommerce sales exploded in 2020 – smashing all historic records and trends.
eCommerce sales reached a record $3.9 Billion in May 2020, representing nearly a 100% increase above February 2020 numbers.
Year over year numbers were looking similar, with an over 110% increase above May 2019.
This graph highlights the dramatic spike in eCommerce sales in May of 2020. The question on everyone’s mind is: will it be sustained?
This graph clearly highlights that while overall eCommerce sales have been steadily rising since 2010, that March of 2020 smashed all the records and re-wrote the trend.
What was interesting, was that while total retail sales plummeted to $34 Billion in April, representing at 29% decline as compared to February – eCommerce sales saw a 64 increase in April more than compensating for the loss of retail sales.
Let’s just say that the pandemic winners were those who were already equipped to jump on the eCommerce bandwagon (cough, Amazon, cough).
The question now is – is it too late to get in on this action? Or are there still opportunities to launch your own eCommerce empire?