Independent businesses gain favour

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 17, 2021, 4:44 AM GMT+0

This piece highlights latest ecommerce trends based on an infographic presentation shared by Oberlo.

Ecommerce has been growing for years but the pandemic has taken digital shopping to new heights. Studies show young customers have played a crucial role in the shift to online shopping, with 67% of them spending more on online channels now than before the pandemic.

New and independent businesses are gaining consumer attention as 57% of customers are actively looking to purchase from them. Between 2020 and 2025, ecommerce penetration rates are expected to increase from 15% to 25%. According to eMarketer, ecommerce sales will also increase from $4.9 trillion in 2021 to $6.4 trillion in 2024.

Mobile shopping, social commerce and latest technologies like AR are expected to vastly contribute to the growth of ecommerce. Environmental factors and personalisation will also influence shoppers’ purchase decisions and ecommerce growth.

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