The retail landscape saw a huge shift to online in 2020, with more consumers than ever turning to e-commerce. But how did this shift in buying behaviour influence the Black Friday weekend and other popular retail events? We’ve created a roundup of 2020’s biggest shopping events, along with an overview of common trends witnessed across the e-commerce landscape.
The 2020 E-commerce Landscape at a Glance
Online retail sales saw a massive spike in 2020 compared to previous years. According to OECD the COVID-19 crisis accelerated an expansion of e-commerce towards new firms, customers and types of products. It has provided customers with access to a significant variety of products from the convenience and safety of their homes, and has enabled firms to continue operation in spite of contact restrictions and other confinement measures.The COVID-19 crisis accelerated an expansion of e-commerce towards new firms, customers and types of products. It has provided customers with access to a significant variety of products from the convenience and safety of their homes, and has enabled firms to continue operation in spite of contact restrictions and other confinement measures.
US
In the US, between the first quarter of 2018 and the first quarter of 2020, the total share of e-commerce saw a gradual increase from 9.6% to 11.8%. However, between the first and second quarter of 2020, it spiked to 16.1%.
UNITED KINGDOM
IntheUK,betweenthefirstquarter of 2018 and the first quarter of 2020, the share of e-commerce grew from 17.3% to 20.3%. Yet, between the first and second quarter of 2020, this increased significantly to 31.3%.
CHINA
In China, between January and August 2020, the total share of e-commerce reached 24.6%, up from 19.4% in August 2019 and 17.3% in August 2018.
Source: OECD E-Commerce in the times of COVID-19.
Hatch Black Friday Cyber Monday Insights
Our global sales data reached record highs across Black Friday and Cyber Monday 2020.
- Leads: Traffic increased up to four times more than BFCM 2019
- Conversion: Conversion rates were down 1% from last year
- Device used: We saw an almost equal split between mobile and desktop purchases.
Hatch Leads and Sales data 2019 vs 2020
BFCM And Beyond: Optimising the Customer Journey
In 2020, consumers shopped online more than ever, highlighting the importance of e-commerce and omni-channel retail. Hatch’s ‘Where to Buy’ solutions give brands the ability to connect their offline and online channels, thus enhancing the customer buying journey.
Download the full report, get more insights into 2020 BFCM and Singles Day and prepare for 2021!
