Wednesday, March 11, 2020

Coronavirus shifts U.S. online shopping habits

Chain Store Age
According to data analysis from predictive retail analytics platform Quantum Metric, coronavirus is driving U.S. consumers online. E-commerce retailers based in the U.S. experienced a 52% growth rate in online spending during the fifth to eighth weeks of 2020 (the time period when the virus began rapidly spreading outside of Asia) compared to the same weeks of 2019. These weeks span Jan. 27 – Feb. 23, 2020.

In addition, online conversion rates rose 8.8% year-over-year during those same weeks in 2020. For the ninth week of 2019 (Feb. 24 – March 1), Quantum Metric data shows a reversal in growth. The company says this trend may indicate the e-commerce spurt may be calming down and reflect spending that has been pulled forward, rather than increased overall. . . . more