Turning lemons into lemonade

Ecommerce and online business, shopping and buying has been growing fast before the #COVID19 #pandemic pushed even more consumers online, due to lack of other ways to shop, or just for better opportunities.

In 2020 and beginning of 2021 many businesses pushed hard to put their businesses online, contributing an additional hefty $105 billion in U.S dollars. Online sales hit $791.70 billion in 2020, up 32.4% from $598.02 billion in the prior year, according to Commerce Department figures. That’s the highest annual online sales growth of any year for which data is available.

#Ecommerce thrived in 2020 because of store closures and shoppers’ fear of contracting the #coronavirus. Figures from Q1 2021 show that the #corona virus is still making an impact on retail spending. #Onlinesales increased 39% year over year in Q1 2021, nearly triple the 14% increase in Q1 2020, and faster than Q3 2020 and Q4 2020.

Q1 2021’s fast ecommerce growth is likely because of consumers spending their stimulus checks and tax returns. Plus, with the corona virus cases spiking in January, many consumers were still avoiding stores and purchasing online. This, coupled with shoppers beginning to purchase products for their post-vaccine life, such as luggage, teeth whitener and vacation apparel, all contributed to the 39% increase.

“As of January 2021 #Canada had 35.63 million #internet users in total, of which 30.75 million were also active on #mobile #internet. Meanwhile, of the 32.2 million active #social media users reported over 95% accessed their accounts via mobile phones.”

With over 35 million, Canada counts among the biggest online markets in the Americas #internet users. Digital audiences in Canada are projected to grow to 38 million online users in 2023, reaching almost 99% of the Canadian population. In 2018, 88% percent of online adults used #desktop or #laptop #computer to access the internet, while smart phones had a 72% usage rate. Desktops and laptops still accounted for most of the online traffic in Canada, the country though is on the verge of change, with mobile and tablet devices making strong gains in digital traffic. Canada ranks among the countries with the fastest average mobile internet speeds worldwide.

Bottom line is, the Pandemic as well as being a disaster to many, a disease that killed millions and interrupted life around the world was and is still an opportunity….

It has changed how we look at work, travel, interact with others, we learned new technologies, such as #Zoom, we built new business-like delivery and service, we invented curb side shopping, we invented many activities never done before, and as usual humans managed to turn at least some of the lemons to lemonade….

Are you making lemonades? Do you use the opportunities in your #business? Have new ideas? Talk to us at Controllers on Call… we may be able to squeeze those lemons together….

Posted in

cardelladmin

Leave a Comment