A recent report from the US Commerce Department reveals a quarterly increase of 31.8% for ecommerce.
The pandemic has resulted in a 44.5% YoY growth for the ecommerce sector in the US, during Q2 2020, as per the report. YoY online shopping growth in Q1 was 14.8% in Q1 and 2.4% in Q2.
Further, spend in ecommerce as the percentage of total retail sales increased from 11.8% in Q1 to 16.1% in Q2. However, big retail brands like Walmart, Home Depot and Target saw their earnings flourish, even as the US retail economy recovered unevenly due to regional differences.
Target recorded a 195% YoY growth in ecommerce sales and gained 10 million new customers. Walmart’s ecommerce sales grew 97% in Q2 2020. This article states, adopting an offline to online (O2O) model can help retailers succeeded.
[3 minute read]