Let's face it. With the current situation, the way we communicate has changed, and businesses have been forced to evolve and look for new ways to promote and sell their products and services. Some of these new trends are here to stay; such is the case of e-commerce.
Even before the Coronavirus, e-commerce had seen significant growth, reaching 56% of overall retail growth in 2019. In 2020 these numbers are increasing rapidly.
According to Adobe (2020), "e-commerce has grown 25% from March 13 – 15." Other sources such as ACI Worldwide state that during March, there was "a 74% growth in average transaction volumes compared with the same period last year." This means that there is an excellent opportunity for companies that are looking to increase their online sales.
But what types of products are people looking for? According to essentialretail.com, many categories are being benefited, including furniture (with 97% growth), electronics (27%), DIY products (136%), and even jewelry (30%).
Online entertainment and gaming are two of the categories that are also seeing tremendous growth, increasing around 97% in sales. On the other hand, travel is the most negatively impacted category.
Digital products and services such as online courses, ebooks and digital newspapers are also growing massively in demand. According to Pressreader, during March, demand was up by 259%, compared with the same month in 2019.
The numbers don't lie. E-commerce is more important than ever, and now is the best time to start selling online if you're not doing so.
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