Looking Back on 2020: The Year of eCommerce
Updated: Mar 9, 2021
By Liat Karpel Gurwicz
Among the new habits we adopted in 2020, we learned to: one, wear a mask, and two, shop online.
Like so many other aspects of 2020, the way brands and retailers do business changed forever.
The impact of COVID-19 on the retail industry has been massive, greatly influencing consumer’s buying behavior. The result: a year of unparalleled growth in eCommerce sales.
Global lockdowns led to a massive surge in online shopping, posing major challenges to businesses around the world. Despite the incredibly high demand for eCommerce in 2020, merchants weren’t always prepared to meet it at scale without professional eCommerce and fulfillment solutions in place.
Sadly, many brick-and-mortar businesses were forced to close their doors permanently, while others had to quickly pivot, immediately opening online stores for the first time ever. Even those with online stores had to make significant adjustments to manage the challenges surrounding inventory, logistics, shipping and more.
Here at Wix, we’ve been blown away by the resilience of small businesses owners and have proudly witnessed our users reinvent themselves to survive—and even thrive during this time of immense challenges. Throughout the year, we’ve been inspired by businesses who have adapted and succeeded despite unpredictable challenges.
With the backdrop of COVID-19, more businesses than ever before moved online in an effort to stay afloat.
The Wix network of online stores selling worldwide grew from 400,000 to over 600,000 active stores this year.
One such example is the story of Evolve. When COVID-19 hit, the Evolve fashion boutique in a small New Jersey town doubled down by investing in their online store. Now, their products sell out nationwide, they offer curbside pickup for locals and their sales are growing 30% every week.
Another online store success is Angel Gregorio and The Spice Suite. When the pandemic began, Gregorio turned her brick-and-mortar shop into a warehouse and focused on selling online. Now, every time she uploads new inventory on her site, she sells out in minutes. To date, her spice shop has sold over $2 million.
As we approach the end of this rollercoaster of a year, we put together a year-end report to share the extraordinary growth of eCommerce in 2020.
Spoiler alert—online sales broke records.
As the months of lockdowns and social distancing passed by, we saw significant growth in eCommerce consumption across the globe.
Online sales grew 140% YoY (year over year), and sales revenues have increased 114% YoY.
As the world began to go into lockdown, the ripple effect of shelter at home orders meant big business for eCommerce retailers. These are the days with the highest growth in sales transactions per country:
France: 24 April 2020, 343% YoY
Japan: 29 April 2020, 1,707% YoY
USA: 5 May 2020, 295% You
UK: 15 May 2020, 352% YoY
Brazil: 9 June 2020, 655% YoY
Mexico: 30 June 2020, 523% YoY
In keeping with this year’s record-shattering growth, this holiday season has been one to remember.
Black Friday Cyber Monday sales hit an unbelievable 125% increase in YoY growth.
For the full and detailed breakdown of the dramatic surge of eCommerce in 2020, read the full year-end eCommerce report.
With more consumers shopping online than ever before and businesses selling online in record numbers, we believe the advances the industry has seen in online shopping are here to stay. Retailers without a reliable eCommerce system in place could lose revenue and customers as online shopping continues to rise.
The future is here—consumers expect brands to meet them where they are, providing valuable customer service and a great shopping experience both online and in-person.
Want to join the eCommerce trend? Create your online store and start selling today.
Image Credits Featured Image: WIX
Article By: Liat Karpel Gurwicz - eCommerce Marketing
Liat has led Strategic Marketing for Wix.com since 2014, including marketing efforts for Wix's creative, professional and business audiences. She currently leads Wix’s eCommerce marketing and business activities.
Article can be found on CNET at the following link: https://www.wix.com/blog/ecommerce/2020/12/year-end-statistics
eCommerce Report - Year End Report - eCommerce Stats
#blog #wix #seo #webdevelopment #webdesign #webbuilder #ecommerce #ecommercewebsite #salesandretail #businessandmanagement #onlinemarketplaces