The COVID-19 pandemic brought massive economic disruptions across the globe, causing businesses to adopt makeshift operational strategies in adherence to the local laws and guidelines. More than a year into the pandemic, we are still trying to get things squared away quickly. Although several businesses are still bearing the brunt of the pandemic, many others took this opportunity to proliferate their sales through eCommerce.
In the wake of the COVID-19 pandemic, eCommerce became one of the most profitable industries worldwide. With online shopping becoming more of a necessity than a choice, we saw global eCommerce statistics indicating unprecedented figures in 2020. Even today, a majority of shoppers prefer online channels for their day-to-day purchases. Let’s move ahead and look at some statistics that indicate the growing popularity of eCommerce app development services.
It’s quite evident that 2020 has been the year of eCommerce if we leave the negative aspects behind. Although eCommerce was already gaining traction worldwide, the COVID-19 outbreak proliferated the growth to unprecedented levels. According to UNCTAD, global eCommerce sales jumped to $26.7 trillion amidst COVID-19 concerns. Similarly, Contact Pigeon reveals that the average number of items per order increased by 60 percent during the pandemic.
For example, the below curve clearly illustrates the impact of COVID-19 on online sales in Italy.
Here, we can see sharp spikes between the growth period i.e. February and March 2020, indicating that COVID-19 acted as a major catalyst for online sales.
In the US, the growth took place at a massive scale, making eCommerce one of the fastest-growing industries in the country. As per the early estimates of Digital Commerce 360, the overall consumer spend on eCommerce turns out to be $861.12 billion in 2020. It represents a whopping 44 percent year-over-year growth, the highest eCommerce growth to this date in the country.
The following curve highlights the year-on-year eCommerce growth in the US over the past decade.
Here, we see a clear distinction between 2020 and the remaining period of time that only represents a minuscule growth.
The aforementioned statistics clearly indicate the growing popularity of eCommerce app development services in the wake of the COVID-19 pandemic. Also, in the above discussion, we mainly focused on the previous year’s data that is available in the context of eCommerce. Here, we’ll talk about the upcoming trends and future predictions in light of the current pandemic situation.
Although with several vaccination programs underway, we seem to be getting over the hump in 2021, eCommerce app development services continue to make strides. According to Statistica, over 2.14 billion people are likely to make purchases online in 2021. Similarly, the early forecasts by Statistica reveal that global online sales are likely to grow to 22 percent of all retail sales in 2023. This fraction was a mere 14.1 percent in 2019.
The above curve provides easily discernible data to help you extrapolate the extent of growth that is likely to occur in the eCommerce sector in the coming years.
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The impact of COVID-19 on online sales has been apparent, ever since the pandemic began. The aforementioned statistics reaffirm the widespread growth of online sales and highlight the growing popularity of eCommerce app development services. The sheer volume of online orders that we see today is a clear indication that eCommerce is here to stay. That said, it is an opportune time for retailers, merchants, and store owners to leverage eCommerce development services to build a digital presence.
At Oodles ERP, we provide end-to-end eCommerce app development services for cross-industry business use cases. Our development team specializes in using the latest tools, frameworks, and SDKs to build custom online stores for web and mobile platforms. We use open-source software platforms like Shopify, Magento, Prestashop, and WooCommerce to develop feature-rich eCommerce solutions that are easy to scale. To learn more about our eCommerce development services, drop us a line at [email protected].