Consumers are stocking up on essentials though not looking for deals.
Online shopping traffic has grown 108% since the beginning of April, surpassing last year’s Black Friday traffic every day, according to marketing data platform PriceSpider. Traffic on 3rd May grew to record levels of 233% as compared to an average day before the lockdowns were put in place.
Sales in the period from 22nd April to 28th April were also up 22% compared to Black Friday weekend. Categories such as food and beverage, health and beauty, hardware and consumer electronics saw an increase of as much as 589% over last year.
Online shopping’s growth comes at the cost of traditional brick and mortar retail, which is expected to see a loss of $2.1 trillion globally in 2020. “In the past few weeks, we’ve seen historic shifts across ecommerce,” PriceSpider CEO Anthony Ferry said in a statement.
[2 minute read]