The Coronavirus Pandemic (COVID-19) is appearing to end soon, and a return to normal life is underway. To help your organization get useful but latent visuals in this uncertain period below is the collection of some useful statistics of the newest trends, market data, and e-commerce shifts under the impact of COVID-19.
Buying Trends Shifting During COVID-19
As people around the globe are pushed to rethink and change their buying choices due to the evolving global and local conditions, the frequently purchased product categories are also changing.
Some major changes are:
- Notable Increase in the purchase of preventative health and wellness products.
- Purchase of protective gear like surgical masks and sanitisers
- Groceries are stockpiling, Lockdown Preparation, shortage of products in stores, and avoiding store visits.
- Permanently altered supply chain and buying methods.
As we discuss these changes. Below are some of the most affected product categories that marked a notable upsurge in online sales under the pandemic.
Health and Safety products
Health and safety products are being purchased far faster than produced and restocked, pushing the companies towards the edge of supply-demand shock.
Sales of hygiene products and surgical masks showed a more than 300% increase.
Products with more Shelf Life
Sales of products like shelf-stable milk and milk substitutes (like oat milk) are up by more than 300% in dollar growth.
Food & Beverage
After pandemic containment measures and lockdowns, more people are using BOPIS (buy-online-pick-up-in-store) or delivery options. Downloads of apps that enable people to hire shoppers to prepare and deliver their grocery orders have increased by 124% (Shipt) and 218% (Instacart). People are also choosing to buy these items from online stores more than they did prior.
ShipBob, a shipping and fulfilment partner for e-commerce stores, gathered data from 3,000+ merchants and is tracking the data. While the chart below shows some fluctuations, the month-over-month increase in online sales for food and beverage is 18.8%
While some products have experienced a sudden increase in sales due to the contemporary crisis, some other industries are not performing well. The most badly affected areas are entertainment, restaurants, and the travel & leisure industry.
Increase In Ecommerce Consumer Sales during COVID-19 (+52.20%)
(Data From ShipBob, ShipHero, Attentive, Stackline, CTC, Klaviyo, Emarsys, Rakuten & Adobe)
Statistics from eCommerce Industry During COVID-19
- More ad spending pushed into more eCommerce platforms than ever in human history.
- Surprisingly, ROAS increased 18.82% over Black Friday.
- Facebook conversion rates hiked by 20.48% over the same period.
- At the same time, e-commerce CPMs increased by +21.56% WoW and +24.57% YoY to mark an all-time high record of $27.33.
- Under the combined impact of COVID-19 and Cyber Monday, Online sales increased at less than half the projected rate, increasing 15.1 per cent. Consumers still broke all the records by spending $10.8 billion on Cyber Monday 2020.
People around the globe are adjusting to adapt to these crisis times, causing their behaviour to shift. Business owners are facing trouble in meeting the needs of these uncertain times. The only way to adapt to these changes is hidden inside the ocean of statistical data. The only way out is to shift the equilibrium of digital strategy accordingly.