Per eMarketer, “Ecommerce now commands a larger slice of a larger pie. Prior to the pandemic, we expected ecommerce sales would make up 13.2% of total retail sales ($5.779T) in 2021. We now expect ecommerce sales will account for 15.5% of the $5.856T in total retail sales this year.” In sum: 2021 looks rosy, particularly for consumer brands well positioned via both on- and offline channels. Pre-pandemic, ecommerce was associated with convenience; in 2020, ecommerce also equaled safety. Now, many consumers—especially Gen Zers—are excited to return in-store, but those trips will be augmented by screen time; shopping is more holistic than ever before—and for a greater group of people.
- $908.73B: the projected size of ecommerce sales in 2021. That represents a 7% increase over 2020 ($799.18B)
- Ecommerce will account for 5% of total retail sales in 2021
- In 2022, ecommerce sales are projected to exceed $1T
- The top three projected growth categories in 2021:
- Apparel and accessories: 18.9% (driven by pent up demand)
- Food and beverage: 18.1% (spurred by online grocery)
- Health/personal care/beauty: 16.1% (accelerated by the pandemic)
- Cosmetics and beauty, as a sub-category, will grow 9.7% in 2021, reaching $12.98B
- As consumers start going back in-stores more frequently, the seamless phygital experience will be critical:
- 37% of both Millennials and Gen Zers like to go to a store to see/touch an item before purchasing online
- 31% of Millennials prefer brands to use digital tools to bring the store to them
- 30% of Gen Zers prefer going in-store to talk with sales-professionals about products
At Stella Rising, we are well-versed in ecommerce, marketplaces, and brick and mortar retail; our award-winning team solves for today’s business challenges and navigates clients through all phases of growth. Looking to accelerate your brand? Connect with us.