The COVID-19 outbreak has brought along an unprecedented boom for online retail. Online orders surged in the first half of 2020 and remained high in many parts of the world throughout the year. Many e-commerce players such as Amazon and Otto experienced a record holiday season. Analysts expect the upward trend to continue. More and more online orders are being processed and
61% of consumers are more likely to browse for products online
61% of consumers globally are more likely to browse for new products online compared to in-store. In addition, they also find it easier (64%) and more enjoyable (54%). However, when it comes to actually purchasing the products they are not so sure. Although the majority are browsing and discovering new products online, people are more likely to make spontaneous
Changes in brick-and-mortar stores during COVID-19
Social distancing measures have been enforced nationwide. As a result, many brick-and-mortar businesses had temporarily shut down. In particular, the services industry has been hit hard. However, many retailers and restaurants have been shifting business online in response to the lockdown. According to Valitor, 76% of brick-and-mortar businesses say that COVID-19 has changed
Dutch shoppers say they will reduce their overall purchases
Research from AfterPay indicates that Dutch shoppers will reduce their overall purchases in July, in both online and offline purchases. Dutch consumers say that they will continue to shift purchases to online channels this month. Dutch online purchases picked up to +40% in the second half of June, when compared to early March, after a period of stabilized and even decreased
Germans spend less than other Europeans on brick-and-mortar retail
In many European countries, online trade has emerged as a strong force. The declining share of consumer spending on brick-and-mortar retail reflects this. Last year, in the 27 European Union countries, the retail turnover share of private consumption decreased by 1%. On average, EU consumers spend 29.9% of their money on brick-and-mortar retail according to GfK. Germany places