Shopping
Commerce During COVID-19 Report — worth reading first
Life, along with traditional shopping habits, was abruptly upended in March 2020 as the coronavirus, known as COVID-19, began to spread across America. Within the following weeks
Budgets quickly became constrained and brick-and-mortar was no longer a viable choice as a majority of American residents were under shelter-in-place or similar restrictions leading to a whole new era of commerce.
In this report we look into the shopping, spending, and saving habits quickly formed by American consumers as the world struggles to contain the COVID-19 pandemic.
GET THIS REPORT TO:
- Understand how shopping habits have changed since the pandemic began in mid-March, and how COVID-19 could impact both brick-and-mortar and online shopping in the long-term
- Uncover patterns around digital discounts and how consumers perceive the importance of promotions when shopping online during COVID-19
- Discover how constrained budgets from the widespread job loss related to COVID-19 has led consumers to turn to Buy Now, Pay Later choices, and which generations are most likely to utilize these services.
KEY FINDINGS IN THIS REPORT:
- Online shopping has dramatically increased since earlier this year because of COVID-19. 90% of U.S. shoppers surveyed said they had shopped online since mid-March. 58% of those who shopped online stated they purchased more online since mid-March compared to earlier this year.
- Consumers have increased their buying at Amazon, with 53% of online shoppers stating they made a purchase with the business since mid-March. Furthermore, 1 in 3 (33%) online shoppers said they have increased the frequency of Amazon orders during the pandemic, a rate almost three-times higher than major retailers like Walmart (12%) and Target (12%).
- Discounts have become an extremely key part of digital shopping, with 92% stating they search for a better deal before making an online purchase. Furthermore, because of COVID-19 the search for discount codes has risen to match the later portion of last year's holiday season levels per assorted indicators.
- During the pandemic, Buy Now, Pay Later (BNPL) services (like Klarna, Afterpay and others) have been attractive payment choices, especially to younger generations. Of those who ever used a BNPL service, 2 of 3 (66%) Gen Z consumers stated they used it for the first time because of COVID-19, and 1 of 2 (56%) of Millennials stated the same.
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Topics Amazon
