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Online Shopping Grew by $900 Billion Last Year
April 5, 2021
With consumers stuck at home last year, online retail exploded. According to a report from Mastercard, consumers across the globe spent $900 billion more on online shopping than in the prior year.
This includes not only sales of goods from retailers like Amazon, but food and grocery delivery, as well as curbside and in-store pickup of purchases made online. In total e-commerce accounted for $1 out of every $5 spent globally. That’s up from $1 for every $7 spent in 2019.
According to the report, roughly 20% to 30% of that additional online spending will persist in 2021 and beyond. The most permanent change is expected to be online grocery shopping, which is expected to retain 70% to 80% of the additional online sales seen during the pandemic.
