Digital commerce jumped 49% in April and e-commerce companies experienced Black-Friday-like sales boosts as Coronavirus drove traditionally offline economic activity online, says Adobe.
Briefly, here are the highlights:
- e-commerce up 49%
- online grocery sales up 110%
- electronics sales up 58%
- apparel sales up 34%
But prices are also up in some categories, like groceries and electronics.
“As online is absorbing the offline retail economy, some inflation is being observed for the first time in years, especially in categories that have consistently experience online deflation, such as electronics,” Taylor Schreiner, a director at Adobe Digital Insights, said in a statement. “Americans are used to things getting cheaper online, but that trend may be ending, and online commerce may never be the same. It appears that COVID-19 has accelerated that process.”
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Adobe released its Digital Economy Index today, which analyzes over a trillion online transactions from 80 of the top 100 U.S digital retailers.
The upshot: the economy is changing faster than ever before.
While e-commerce has been eating traditional bricks and mortar for years, it’s still only a fraction of the full retail landscape: about 12%. That’s changing fast as COVID-19 shifted economic activity online. 50% month-over-month is literally unprecedented. And while the pendulum is likely to rebound somewhat as states like Texas, Georgia and Arizona re-open, some of that consumer behavior shift is likely never reversing.
Source: Forbes