eCommerce and COVID-19 – a first conclusion
All data on how eCommerce is affected by corona – a detailed Trend Report by ecommerceDB.com
2020 has been a turbulent year – hardly has there been any crisis that affected as many countries, industries, societies and individual lives as the corona pandemic of the first half of 2020. Analysts worldwide assume that the negative economic impact of COVID-19 is going to be more severe than the recession following the global financial crisis of 2007/08.
ecommerceDB.com has meticulously been gathering all relevant information on the impact of the corona pandemic on the global eCommerce business over the past weeks and months – including company information, latest Statista Digital Market Outlook and survey data, and information provided by industry associations and renowned business analysts. Now that the first stage of infections and lockdowns is over, it has become time to combine all that into a comprehensive and easy-to-assess overview: The brand-new ecommerceDB.com Trend Report How eCommerce is impacted by COVID-19 is now available for download!
Check out one of the exclusive slides from the report now and get an idea of how revenues have been affected by COVID-19 in the different eCommerce product categories:
What many expected shortly after the onset of the crisis has turned out to be true: eCommerce as a whole seems to have profited from the crisis. After the latest adjustments to their 2020 revenue forecasts, the Statista Digital Market Outlook now expects global eCommerce sales to grow by an additional 3% this year due to the corona crisis. Even though this is no major increase, it still gives hope, given that most other sectors expect a sharp decline in the wake of the pandemic.
The corona pandemic has not affected all of eCommerce in the same way, though. The biggest winners are without doubt online retailers of Food & Personal Care products. According to the forecast adjustment of May 18, revenues in the category are expected to experience a revenue boost of another 15% during the corona crisis. Other product categories are far behind, yet still record an additional plus in revenues: Toys, Hobby & DIY, Electronics & Media, and Furniture & Appliances are expected to record an additional increase in 2020 online revenue of 5%, 3%, and 2%, respectively. Fashion is the category that is expectedly most negatively affected by the corona crisis out of all eCommerce product categories: The 2020 revenue forecast has been adjusted to US$581 billion, which corresponds to a decline of -6% compared to the pre-corona prognosis.
When looking a bit further ahead, the current lockdown effects are likely not to last long. According to the Statista Digital Market Outlook, the skyrocketing revenue growth in the Food & Personal Care category in 2020 is going to return to a “normal” level after the pandemic and product categories are expected to be closer together in terms of revenue growth in 2021. Whether this will be the last adjustment to the forecast cannot be foreseen as conditions have been developing rapidly and might change again in the future. As for now, though, online retail can breathe a small sigh of relief.
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