The COVID-19 pandemic jump-started a shift in consumer behaviour.
With lockdowns, travel bans, shops shutting down and work-from-home orders, ecommerce has peaked exponentially. So, what would the future of ecommerce look like in the ‘New Normal’??
Shopify’s newly published report “The Future Of Ecommerce” focuses on outlining ecommerce growth through and beyond the COVID-19 crisis. The report is a combination of Shopify’s global merchant and consumer data to create a framework of trends and predictions on how ecommerce will shift in 2021 based on current consumer behaviour.
Shopify itself witnessed an unprecedented growth this year as new stores created on the platform grew 71% in Q2 2020 compared to Q1 2020 followed by a record number of merchants added to the platform in Q3 2020.
Take a look at a few key takeaways from the report –
- at the height of the COVID-19 crisis, 10 years of ecommerce growth occurred within just 3 months
- 84% of consumers shopped online during the COVID-19 pandemic
- 75% of consumers tried different stores, websites or brands during the pandemic
- almost 49% of consumers stated they’ll shop online more frequently post-COVID
- 64% of consumers (globally) want their orders shipped for free
- round 42% of consumers want brands to be socially responsible
- 50% of global ecommerce sales occur on marketplaces where consumers search for solutions instead of brands
Shopify interviewed 25+ industry leaders, investors and commerce experts to create “The Future Of Ecommerce” report. To review each trend in-depth and examine the practical steps you can take to future-proof your business, click here.