In an extremely thorough report on the Digital Economy, Adobe Analytics surveyed over 1 trillion site visits and over 100 million SKUs.
Overall in ecommerce, “2021 is showing no signs of slowing down; Jan-Feb 2021 grew 34%” year over year.
For those that speculated that 2021 would return to pre-pandemic levels, the report finds that “E-commerce spend was bound to drop from the +80% YoY growth we saw in May, but it’s now evident that +20% of that boost is here to stay”.
Interestingly enough, prices of goods sold online are going UP. This is mainly due to the strain on the supply chain due to the effects of the pandemic which has increased shipping costs and delivery lead times as well as the effect of Amazon’s own logistical challenges with their warehouses.
In other words increased demand and lower supply (more stockouts) has driven prices upwards. If you’re an ecommerce seller this could be good news as Consumer Digital Purchasing Power is decreasing.
There also is a surge of new customers online as well. Two key data points are:
Many new consumers shopping online for the first time in 2020. “9% of consumers report never purchasing an item online prior to the US pandemic emergence in March 2020.”
Also 47% of consumers served agreed that “the pandemic drove them to buy certain types of goods online, for the first time.”.
One of the big winners in 2020 was the home improvement category. As many people are quarantining and stuck at home, it makes sense that they want to upgrade their homes to live more comfortably as they’re spending more time there. “From April – October 2020, home improvement received a 60% boost over January levels”.
Also fun fact – “Consumers are shopping more and more during work hours”. This was bound to happen as more people are working from home!
“How to sell $30-100K+ in pre-orders before ordering inventory” – Webinar about getting pre-orders and List Building with Vance Lee
In this 60 minute training, you will learn how to:
- Execute the little known (yet powerful!) Kickstarter launch strategy
- Minimize financial risk by getting pre-orders (and cash!) before ordering from your supplier
- Build an audience and list before you launch
- Develop a brand and how this will increase revenues, decrease risks, and create a sustainable business
- Rally your first 1000 true fans
- Launch or grow a sustainable brand using influencers, PR, and generate social credibility for FREE
If you missed it, we had over 50 people join live and we answered a TON of questions as well so definitely check the replay if you missed it LIVE.
Watch the full replay here.
Access the bonuses resources for our 7FSS community:
or email Vance directly with any questions (firstname.lastname@example.org)
Here are some things you may have missed from last week:
- China’s exporters hit by global shortage of shipping containers – Financial Times
- The 7 Deadly Sins of Amazon & Ecommerce Sellers Webinar Replay – Private Label Live