Online shopping: the past, present and future of the Internet’s greatest achievement
Date
6/28/2022 8:10:07 AM
(MENAFN- TopFlight Agency ) The evolution of online shopping in the last 50 years is huge. According to our latest study the US and the UK generate an average of $2000 and $1600 in revenue respectively per shopper. And when 70% of the entire American adult population and 87% of the UK’s have bought at least an item online in the past year, you can guess just how huge this "trend" is.
According to Statista, eCommerce is worth 700 billion pounds. The markets that grew the most are IT, general wholesale retail and, surprisingly enough, manufacturing, which also includes the production of large machinery parts and chemical/biological processing tools.
The main founding father of online shopping is clearly Amazon. Although it was originally a platform to sell books. Within 30 days, Jeff was already delivering products to 45 countries – 30 years have passed since then, and its success is undeniable: 1,6 million employees, 33 billion dollars in 2021 and enough money to fund a whole space mission.
Pablo Lopez, CMO and Founder at topflight Agency commented on the findings:
"Online shopping is the new day-to-day for retailers. We've seen how big businesses such as Primark or Debenhams, drained during the global pandemic because they didn't have an optimal online strategy in place while other retailers like Amazon or JustEat saw a massive expansion thanks to their online-first approach. Here at topflight, we saw a clear trend on user behaviour for some of our e-commerce clients. Most of the customers that used to buy in physical stores were forced to rely on online platforms to overcome their monthly needs."
COVID made everyone into an entrepreneur. Websites such as Etsy saw a 400% increase in profits while Wall Street Journal reports that Shopify’s profits have nearly doubled as a result of the pandemic, its shares have boomed during their Q3 earnings calls, and subscription-based earnings grew 28%.
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