Retail sales fell 8.7% in March, the steepest decline ever recorded. But in April, e-commerce enjoyed unprecedented growth, aided in part by government stimulus payments. And over the Digital Marketing Company Sheffield past week, data released by Adobe, Shopify and PayPal reflect the scale advantages of e-commerce and even “Black Friday” traffic and transaction levels.
Two and three-digit growth in digital sales. Adobe’s new “Digital Economy Index” released earlier today found that e-commerce is growing sequentially by 49% (great) and category of individuals experiencing higher growth.
For example, electronics sales rose 58% and daily online grocery sales rose 110%. The data comes from the “trillions of transactions, tens of millions of products and thousands of retailers.”
Adobe also said that the buy-online-pick-up-in-store (BOPIS) orders rose more than 200% year on year in April. Hybrid form of this transaction, with a purchase online and offline fulfillment is a metaphor for the future of a more integrated digital retail.
Adobe also said that prices remain in check or flat except in two categories: electronics, which stopped deflation slide in April and a grocery line, which saw price increases. By contrast, prices for apparel online experience “April largest price decline in a year.”
Like the E-Commerce Merchant booming, the demand exploded, with great consumer demand.
In the first quarter of 2020 earnings report, e-commerce platform Shopify beat analyst expectations and announced a 47% annual growth in revenue and increased volume of goods (gross sales value through the platform) of 46%, while in-store transactions fell by 71% due to the closure of the store. Shopify allows e-commerce for both small businesses and large enterprises.
Earlier, in mid-April, Shopify CTO Jean-Michel Lemieux tweeted that the company had experienced a “Black Friday-level traffic every day” and add “thousands” of merchants for the platform during a pandemic.
PayPal CEO Dan Schulman echoed this sentiment in its first quarter earnings call said, “On the 1st of May, we had our biggest day of the transaction in our history, bigger than last year transactions on Black Friday or Cyber Monday.”
He added that the company was seeing “tremendous demand” for products and services:
> Approximately 250,000 net new active account per day
> In April, an all-time record of 7.4 million net new subscribers
> Hope Q2 is net new account 15000000-20000000
> Revenue growth of 35% for PayPal checkout online in April
PayPal integration with the Google Merchant Center to enable retailers to the list of products on board organic and paid Google went live this week.
Employment situation, with more than 30 million people who apply for unemployment, cloud prospects for recovery. However, online shopping is a significant bright spot for merchants, brands and marketers who serve them. As the state and the store opened, the consumer reaction will be uneven and can be muted by fear of infection. However, digital trading is 100% safe, and buying behavior that has become Digital Marketing Agencies Sheffield established in the last two months is unlikely to go away.