Flashback one year ago:
Almost exactly one year ago today, Phil did an article about eCommerce sales doing very well with the pandemic in full swing. In 2021, Canadians stayed on track in increasing online sales. Selling higher than 2020 numbers. 82% of Canadians shopped online at some point in 2020.
Another Article proving this point is from Jeff Berman from Supply Chain Management. Berman talks about recently-issued data by global trade intelligence firm Panjiva. 2021 is proving to be another record year for US Imports. “Total May U.S.-bound import shipments—at 1,310,710—are up 30.5% annually and are up 27.9%, to 6,137,069, on a year-to-date basis through May.”
This is a 30% increase to 2020. Looking at this on a 2 year scope really shows how much it has jumped. Since 2019, some imports have jumped over 50%.
Panjiva reported the following import numbers:
- consumer discretionary products were up 88.2% annually, following April’s 47.9% annual gain and were up 32.9% compared to May 2019;
- consumer electronics shipments and household appliances shipments saw annual gains of 10.9% and 62.2%, respectively, compared to May 2019;
- apparel shipments were up 4.4% compared to May 2019; and
- materials shipments were off 1.4% compared to May 2019 and were up 18% annually
All over the board imports are up. With many of these sales taking place on an ecommerce market.
What does this mean for the future?
Online Shopping is here to stay. The Covid-19 pandemic has thrust E-commerce to a new level of selling. While one can expect people to want to return to shopping once this is over. The regularity and normalcy of online shopping will continue to motivate consumers to purchase online.
How to fit your business into e-commerce
Simplicity is key.
With many E-commerce platforms to choose from. It’s hard to make a decision on where it will be hosted and who to trust with your online marketplace.
Customers who shop online value an easy process from shopping cart to payment and shipping. Here is a great article by Matthew Toren of Entrepreneur, he outlines some key features that lead to repeat customers and positive sales reviews.
Bullwhip hopes to help small businesses learn more about E-commerce and help familiarize you with the market and how it functions. The topic may seem daunting at first, but with more information and exposure anyone can learn how it works!