| | | | | | The landscape of ecommerce changed in 2020, as did nearly all other aspects of consumers’ lives, thanks to the coronavirus pandemic.
In fact, it’s no exaggeration to say the coronavirus is the biggest disruption to consumer retail spending patterns in recent history, far eclipsing the dramatic events of 2008’s Great Recession. As a result, our previous forecasts of retail and ecommerce spending growth have undergone substantial revisions.
In February 2020, we anticipated modest growth of 2.8% to $5.621 trillion in US total retail sales. Due to the pandemic’s massive demand shock, store closures and stay-at-home orders, we now forecast that total US retail spending will actually decline 10.5% to $4.894 trillion.
Despite this expected downturn, frictionless commerce should see a boost thanks to the pandemic. This trend, which leverages technology to improve the retail experience by saving people time and hassle, was emerging on numerous fronts prior to coronavirus, but shelter-in-place and social distancing measures have significantly increased the demand for retail experiences that minimize time in-store and proximity to other people.
The timeless truths of retail are that consumers will always want better prices, selection and convenience. With the internet having already driven major progress on the first two customer needs, attention is now turning to convenience.
To detail the full outlook for this new phase of ecommerce in the back half of 2020 and beyond, eMarketer has put together The Post-Coronavirus Commerce Bundle, which contains both our US ECommerce 2020 and Frictionless Commerce 2020 reports. |
| | | US Ecommerce 2020 This report explores US ecommerce spending, highlighting our recent forecasts and how the coronavirus pandemic is affecting them. |
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| | | | | Frictionless Commerce 2020 This report covers retail innovations driving improved speed and convenience in the shopping experience, and how the pandemic may affect those innovations. |
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| | Ordinarily, these two reports would retail at $1,990 ($995 apiece). But through this exclusive email offer, you can get both for just $1,592 - a 20% discount! |
| | Claim Your Discounted Bundle → |
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