As reported by eMarketer, “US ecommerce sales will reach $794.50 billion this year, up 32.4% year-over-year. That’s a much higher growth rate than the 18.0% predicted in our Q2 forecast, as consumers continue to avoid stores and opt for online shopping amid the pandemic.”
This is a truly incredible growth, of course, due to Corona. The fact is that e-commerce businesses and those ready with the structure to do so have really benefited from this shift, along with logistics platforms such as Shipstation and SaaS businesses such as Shopify.
The real winners this year have been the top retailers, with Amazon & Walmart leading the way, which of course, carries a large part of third party sellers so a lot of small to large businesses are also benefiting from these platforms success over the last few months.
– Amazon’s share will grow to 39.0% in 2020. Despite being the biggest player by far, Amazon will also experience the largest dollar gain.
– Walmart’s share will reach 5.8%. Walmart displaces eBay this year as the No. 2 ecommerce player in the US.
If you play the market, these are two great companies and stocks to bet on long-term. E-commerce and shopping consumer behavior have fundamentally changed as we know it.
I’m most curious and interested in how the holiday season will play out. The expectation in the industry is that empty malls and retail will mean the biggest shift to online for holiday shopping, maybe ever, and at the same time, the economics of main street may play out with less spending overall due to job insecurity as well as other factors.
Either way, I would expect a pretty strong e-commerce holiday season that may start earlier than last year with Black Friday sales. It’s important you start putting your ducks in a row starting now in regards to the holiday season. Check out our checklist for MUST HAVES for Black Friday and Cyber Monday sale.