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Did you know that during 2021, even as the COVID-19 pandemic started to ease, there was a record 2.14 billion online shoppers?
Back in 2020, e-commerce passed the $400 billion mark for the first time, while reaching $431.6 billion, according to Cloudwards. We’re not quite through 2024 yet, but estimates suggest that online shoppers will hit 285 billion in 2025, after peaking at around a total population of 279.9 million in 2024. (TAKE A POLL: Is the Two-Party System Beneficial for American Democracy?)
“People all over the world understand the benefits. Almost 50% of social commerce consumers in China have made purchases through social networks, giving it the highest rate globally,” says Optin Monster. “According to recent estimates, global e-commerce sales will reach $58.74 Trillion by 2028. This represents a significant increase from previous years and indicates the growing popularity of online shopping.”
Brick-And-Mortar No More?
As we come out of the true grip of the pandemic, there are plenty of people returning to in-person shopping … but probably not enough to save the entire industry. “In the fourth fiscal quarter (Q4)** of 2023, in-store sales dollars increased 1.49% from the previous quarter; e-commerce sales increased 15.2%,” according to Capital One. (TAKE A POLL: Should the Government Provide Financial Support to Struggling Industries?)
As we enter the Christmas Season, we’re reminded that this is a time for giving and sharing. How we spend our money in the coming months will show true consumer sentiment on the economy. Right now, roughly 54% of people say they’ll spend the same amount this year as they did in Christmas 2023, Tinuiti reported. But some 72% of respondents said the rate of inflation will have some type of negative impact on their spending.
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