The COVID pandemic has shifted e-commerce in 2020, maybe more than any other time in history. Traditional retail sales have declined but e-commerce has seen a 129% year-over-year growth in U.S. and Canadian orders as of April 21st, with an impressive 146% growth in all online retail orders. Most, if not all, brick and mortar stores have taken their businesses online to survive the pandemic. As a result, U.S. e-commerce sales will hit a projected $709.78 billion in 2020, or about 14.5% of total U.S. retail sales, up from $601.65 billion,
Pedestrians cross a street decorated with Christmas lights in Orchard road shopping district in Singapore on December 8, 2020.
Roslan Rahman | AFP via Getty Images
SINGAPORE — The last three months of the year are typically synonymous with malls and stores teeming with customers who stand in long, snaking queues to pay for their holiday shopping hauls.
But due to the coronavirus pandemic this year, which forced countries around the world to either go into lockdowns or enforce strict social distancing rules, a lot of the holiday shopping is being done online, according to multiple research reports.
A Gap store in New York, August 2, 2020.
Scott Mlyn | CNBC
Gap Inc. shares rose nearly 14% Thursday after the retailer revealed plans to shrink its store footprint by about 350 stores and switch to a business model that’s driven by e-commerce and off-mall locations.
The apparel retailer, made up of chains Gap, Old Navy, Banana Republic and Athleta, shared the strategy at an investor conference. It said it expects to close roughly 30% of Gap and Banana Republic stores in North America by the end of fiscal 2023. By that time, it said, it plans to bring
E-commerce in the U.S. is on the cusp of big change.
A quarter century after Amazon’s founding, shopping online in America is largely the same experience: People click around a website and buy stuff. But this next phase promises a major evolution, by intertwining streaming video, social media and celebrity into a shopping experience that has the potential to further disrupt an already-battered retail industry.
So-called streaming e-commerce—or live selling—allows almost anyone (celebrities, influencers or your local store owner) to quickly create their own shopping television channel that’s also a social network and e-commerce platform—at a tiny fraction of the
Facebook Inc. is adding a new shopping section to its main app, part of a broader push to capitalize on the increase in online shopping in the midst of the Covid-19 coronavirus outbreak.
The new section, Facebook Shop, begins rolling out across the U.S. on Tuesday. It lets people browse product catalogs from businesses and purchase items on the social network. The company was previously testing the section with a small group of U.S. users, and launched a similar feature on its Instagram photo-sharing app last month. Businesses could already add shopping catalogs to their Facebook pages, but there was