The long-term effect of the pandemic won’t be known for quite some time, but one upward trend has been an increase in e-commerce performance. Some brick-and-mortar stores have had to close permanently, while other bigger named businesses have adjusted and are encouraging online purchases. Bed, Bath, & Beyond reported an increase of 80% in online sales during the second quarter of 2020.

For businesses that exist solely online, this is good news. While the uptick in online sales is a direct result of COVID-19, online sales will only continue to increase. Data shows a likelihood that e-commerce will make up 22% of global retail sales by 2023.

E-commerce Performance Stats

There is a direct correlation between spikes in e-commerce and businesses opening and closing throughout the year. There was a sharp spike in Q2 as many stay-at-home orders were issued and a subsequent slowing for online retail in July as many stores began to reopen. Overall, online spending increased from 12.7% during the first half of 2019 to 18.6% during the first half of 2020.

Data from Statista shows the continued growth in online sales year over year.

What Does that Mean for Print-on-Demand?

The opportunity has never been greater to start selling products online. With the uncertainty that comes with the pandemic, more and more consumers may have permanently changed their shopping habits.

A survey conducted by Qudini on October 26, 2020, shows US consumer views about shopping and 47% responded that they are worried about contracting COVID while waiting in lines at stores. They are much more comfortable shopping online.

Purchasing Responses Generationally

Each generation has had a very different response to the pandemic, shopping habits included. While this information is constantly changing, this is what we know so far.

Gen Z and Millennials

Studies show that the younger generation is more likely to alter shopping habits and purchasing behaviors. Data shows that Millennials and Gen Zs are cutting back on spending, stocking up on items, and spending less on experiences.

Gen X and Boomers

Not surprisingly, the older generation has been less likely to change shopping habits and is less concerned about the Coronavirus.

When you consider which generation your audience falls into, you may find more success with the younger generation. Gen Z and Millennials are already more likely to shop online, and the pandemic has only increased their desire to stay home and shop from the comfort of their couch.

What Does that Mean for You?

Whether you’re thinking of getting started selling your designs online, or you already have a store, 2020-2021 is the time for e-commerce performance success. You can find other exciting trends to watch for in the new year here.

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