1. Online shopping is for everyone (and everything) now
The pandemic was a catalyst for virtual everything: work, school, heck, even happy hours. For some industries this was easy, for others, like retail, the pandemic brought on particularly difficult challenges.
A study by Digital Commerce 360, found that top companies generated $849.5 billion in online sales in 2020, a 45.3 percent increase year-over-year and the biggest jump since 2006.
Online shopping was the only way to shop, so consumers adapted and, now, they’re used to the convenience of delivery for pretty much every kind of item – big or small, expensive or cheap.
This transition also helped knock down some of the key barriers to adoption among older generations. Pre-pandemic, one of the challenges in e-commerce was getting boomers to embrace the digital way of shopping. In 2020, Americans 65 and older rang up an average of nearly $187 per month online last year, up 60% from the year earlier.
This puts ecommerce in a solid position, with spending to remain high, something retail businesses do not want to miss out on.