It looks like online commerce went back in time.
Because according to the US Census Bureau, the share percentage of retail sales generated online in the US is receding – and may soon get back to how it was in 2019.
A glimpse of the past: Before the outbreak, the share of sales made online in the US sat around 11.9%, and peaked at 16.4% in Q2 of 2020, at the height of the pandemic.
The curve flattened and started going downwards, sitting currently at 14.5%.
And you shouldn’t blame the economy: Yes, people became cautious, but overall spending hasn’t tanked. The main cause is simple – people just want to go outside.
Store visits are up and spending shuffled from merchandise and non-essential products during the pandemic to “outdoor experiences” such as entertainment and travel.
Why we care: We might be entering a period of consolidation of online and offline shopping.
Take this and other signals into account if you’re running ads for an e-commerce business before you make any overly ambitious investments.