Q4 coronavirus and ecommerce stats

The coronavirus pandemic forced brands to pivot their 2020 ecommerce strategies immensely to cope with consumers’ constantly shifting behavior. Here are some the latest stats:

Prime Day amid the pandemic

After being postponed from July to October due to the coronavirus pandemic, Amazon Prime Day 2020 went off without a hitch.

The annual sales event took place on October 13 and October 14 this year across the U.S. and 18 other countries. Prime members saved more than $1.4 billion over the two-day sales event, according to a press release from Amazon.

Digital Commerce 360 estimates that despite the pandemic, Amazon Prime Day 2020 sales hit $10.4 billion – up from $7.16 billion (+45.2%) over Prime Day 2019 and from $4.19 billion (+148.2%) over Prime Day 2018.

Dive deeper into the Prime Day wins that happened despite COVID-19 in our Prime Day recap & stats blog post!

The data is in: Online shopping habits since pre-COVID-19

36% of consumers shop online weekly since the rise of COVID-19, up from 28% pre-pandemic, according to new data from Digital Commerce 360.

29% say they currently shop more online than in person, while 35% have an even mix of online and in-store shopping.

What about after coronavirus subsides, though? 28% say they will continue to shop mostly online after the pandemic, with 39% saying they will shop both online and in-store, 24% saying they “can’t wait” to shop in-store, and 10% not sure.

64% of shoppers surveyed want mobile and contactless pickup options, with 79% saying contactless store pickup is very important.

60% want curbside pickup options. 85% of shoppers have significantly increased their use of the curbside pickup option over the course of the pandemic.

90% of consumers prefer home delivery over a store visit, 80% are likely to use digital communications with store associates, and only 28% plan to increase in-store shopping between August 2020 and February 2021.

Executives’ optimism toward economy improves

According to new research from McKinsey, 57% of executives expect the economy to improve six months from now, with 29% expecting the economy to worsen – the most optimistic outlook since the beginning of the pandemic. 14% of executives expect economic conditions to remain the same.

In March, 25% of executives expected the economy to improve in six months, with 58% expecting it to worsen and 17% expecting it to remain the same.

April has had the worst outlook out of all of seven months of COVID-19 in the US, with 66% of executives expecting it to worsen in the following six months.

Executives’ outlook on profitability has also improved, with 53% expecting to see profits in the next six months compared to 33% in March. While over half (54%) of executives surveyed in April expected profits to decrease over the next six months, that number is down to 31% now – the lowest it’s been since the beginning of the pandemic.

Executives also increasingly expect customer demand for their brand’s products to grow, with 53% expecting an increase compared to 42% in June. 23% of executives still expect a decrease in customer demand over the next six months.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][static-block exodus_static_block_id=”18472″][/vc_column][/vc_row]