How the Pandemic Shifted the eEcommerce World 🛍️

In 2020, Americans increased total ecommerce sales by 32.4% when compared to the previous year. 791.7 billion dollars had been spent on just about every consumer product one could think of, but the most popular were food and beverages, along with hobby- related items. And it makes sense when you think about the reduced store hours and cautious behaviors everyone seemed to be partaking in. 

Before the pandemic, ecommerce had only been sitting at 3% of the U.S.’s total retail sales, but soon jumped to a whopping 14%. It’s predicted to keep growing due to consumers finding online shopping to be more convenient. No longer does one have to leave the house to do grocery shopping-- or any shopping for that matter. All you have to do now is gather your desired goods in your cart, hit “check out”, and bada bing bada boom, it’s set to deliver to your house either the same day or within a few. Shopping has become easier than ever before, especially with businesses adapting and making more efficient changes on the regular.

But even though COVID-19 is the culprit for these rapid changes, it’s important to note that these developments were always going to happen. Just… maybe not as fast. Traditional retail is awesome, but with it comes certain limitations that only online stores are able to bypass. Think: a plethora of choices, better accessibility, and if you’re the one running the online biz, it’s a heck of a lot more affordable than a brick and mortar store. 

It hasn’t been all smooth sailing for ecommerce sellers either, though. Competition increased in all industries, and the supply chain was massively disrupted, causing a lingering domino effect that we still feel today. Inventory shortages, a canal blockage, and a reduced workforce resulted in a rise in prices, delayed goods, and complete chaos for all parties involved. Remember the great toilet paper ordeal? Oh yeah, panic shopping didn’t help much with the overall logistic problem we were facing. 

However, with every dramatic economic crisis comes entrepreneurial spirit. With people either getting a reduction in hours, losing their jobs completely, or finally getting the motivation to do what they truly wanna do; 4.4 million new businesses were born. This number doubled the average number of new business developments from the years 2010-2019. With the digital landscape on the rise, people realized that they could start a business with an even smaller budget. Instead of renting or buying a space, people could sell items or teach yoga classes online. 

The “modern entrepreneur” business model has been gaining traction for a while now, and it’s only strengthened with everything going on. It’s all about doing business online, or completing numerous transactions in seconds, all within one’s fingertips. It’s more cost effective, environmentally sustainable, and perfect for those who want to have the flexibility to conduct business while on the go. If you’re one of these people, may I suggest checking out what Rebound can do for you. 

With vaccines rolling out and regulatory use of masks happening, it looks like we’re finally starting to get back some control. Store hours are slowly increasing, businesses are reopening, and hope seems to be on the horizon as well.

How do you think eCommerce will change 10 years from now?

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