In many countries, online shopping hadn’t been easy because of underdeveloped infrastructure and the reluctance, or inability, of consumers to use banks and electronic payment. This has stalled growth in a lot of countries, but the disruption caused by COVID- 19 has forced rapid change. The pandemic has become a turning point in ecommerce development.
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E-commerce is growing worldwide. For example, according to Adobe Analytics, Americans spent a record amount online over the 2020 retail high season season. U.S. online purchases over the 2020 holidays grew 32.2% from 2019, totaling a record $188.2 billion. Now, as COVIDovid-19 cases continue to rise, online spending is expected to stay elevated, at least for the early part of 2021.
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There are also significant changes in who is buying online US baby boomers during the pandemic flocked to online shopping like never before, as the new data shows. Older Americans are now the fastest-growing category of e-commerce shoppers. According to NPD Group’s Checkout Tracking, US buyers 65 and older, on average, spent a total of $1,615 online from January through October last year — a 49% increase from a year earlier.
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New challenges and new opportunities — that’s how the Digital Commerce 360 editorial office sees the nearest future of e-commerce. In some cases, they think some trends that have emerged over the past 12 months will continue. Shopping patterns are unlikely to return to the previous “normal” of late 2019.
2021 will be a year when retailers double down on technology. Online merchants will invest in e-commerce platforms and add new incentives to buy there. Site features will continue to grow in importance as shoppers grow increasingly comfortable shopping online.
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Learn how eBay experts think ecommerce will evolve in 2021. We recently asked several eBay technologists about what they think is next in the evolution of the online shopping experience: from emerging technologies to creating more immersive experiences to enabling the digital presence of small businesses.