As a result of the COVID-19 pandemic, demand for traveling dropped off significantly, especially in the US and UK, two of the hardest hit countries. The situation is exacerbated by a halt in business traveling and cruise ships worldwide.
The US retail sector could take years to recover from the impact of the coronavirus, and the hit could be worse than that of the Great Recession. According to eMarketer’s latest forecast on US retail sales (which includes auto and fuel), total retail sales will drop by 10.5% this year, steeper than the 8.2% drop in 2009. Ecommerce is the only bright spot, jumping 18.0% this year, as Americans rely on Amazon and other online retailers for necessities.
The number of social buyers in the UK will rise to 10.0 million in 2020, a 13.3% increase from 2019, according to eMarketer estimates.
As social distancing practices continue in the US, consumers are increasingly using their credit cards for restaurants and groceries. In Bankrate polling conducted by YouGov, 51% of respondents said they used a credit card for restaurant takeout in April, vs. 30% who said the same in December 2019.
eMarketer research analyst Daniel Keyes, principal analyst Andrew Lipsman and senior forecasting analyst Cindy Liu at Insider Intelligence discuss what happened when Amazon eased up for a few months and what will happen when it hits the gas. They then talk about some new Google features, Amazon looking to buy a driverless car company and some maybe permanent grocery store foot traffic trends.
TechStyle Fashion Group, a global fashion retailer that operates membership-based direct-to-consumer (D2C) brands—including ShoeDazzle, JustFab, Kate Hudson’s Fabletics and Rihanna’s Savage X Fenty—has become one of the fast-growing retailers with more than 5.5 million active members worldwide since it launched a decade ago.
Frictionless commerce, a trend permeating many facets of the customer journey today, leverages technology to improve the retail experience by saving people time and hassle. And arguably the most competitive battleground in frictionless commerce is in fast and free ecommerce delivery.
Insider Intelligence research analyst Daniel Keyes, principal analyst Andrew Lipsman and senior forecasting analyst Cindy Liu discuss how the coronavirus changed retail and ecommerce. What are our base, best and worst cases scenarios? They then talk about who frictionless retail is for and what Americans' online grocery experience really looks like.
Direct-to-consumer (D2C) brand Cuts Clothing has grown a lot since it first launched in 2016 on Kickstarter. “Since day one, we have been focused on making premium minimalist shirts for the modern man,” said Steven Borrelli, CEO and co-founder of Cuts.
US bank branches are still shuttered amid the pandemic, but consumers are more likely to conduct their banking online, according to recent research.
The pandemic and ensuing shutdown has forced many businesses to pivot their strategies and consumer offerings. We recently spoke with Amit Shah, CMO of 1-800-Flowers, about how the company has adapted—and continues to adapt—during the pandemic and how it navigated Mother's Day amid social distancing.
eMarketer principal analyst Mark Dolliver, junior analyst Blake Droesch and principal analyst Andrew Lipsman at Insider Intelligence discuss what reopening retail will look like, what people feel when they multitask, a TikTok competitor that pays you to watch videos, good deeds during the coronavirus, the most popular payment methods, Queen Elizabeth's first job and more.
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The effects of the coronavirus pandemic are turbocharging digital transformation in China's retail sector—and the country is already leading the world in terms of retail ecommerce sales and penetration.
Clothing and apparel retailers will see steep declines in 2020 as spending on discretionary items comes to a near halt amid the ongoing pandemic. We forecast a drop of nearly 22% in 2020 for total sales of apparel and accessories, which equates to a year-over-year loss of over $100 billion.
Insider Intelligence junior analyst Blake Droesch, research analyst Daniel Keyes and principal analyst Andrew Lipsman discuss Facebook Shops and whether businesses and customers will want to use it. They then talk about the significance of Walmart shutting down Jet.com, whether polls will work on LinkedIn and what shoppers expect to do after shelter-in-place orders end.
Walmart's US ecommerce sales are expected to rise 44.2% to $41.01 billion this year, a significant bump from 2019’s stellar 36.8% growth—and an increase from our January 2020 estimate of 27.0%.
Click and collect sales in the US will see an acceleration of growth amid the coronavirus pandemic, rising roughly 60% to $58.52 billion this year, according to our estimates. That’s a considerable increase from our previous estimate, when we anticipated a 38.6% growth.
TikTok’s social commerce features are not as robust as Instagram's or Pinterest's, but the popular short-form video app has been slowly adding shopping ads while integrating creators along the way.
eMarketer principal analysts Andrew Lipsman and Nicole Perrin discuss the most fortunate and unfortunate D2C companies during this coronavirus pandemic, and what they are doing to survive it. They then talk about Google helping retailers highlight curbside pickup, Uber's offer to buy GrubHub, the Media Ratings Council maybe taking Facebook's advertising badge of approval and what to make of some major retailers filing for bankruptcy.