The COVID-19 pandemic has driven more Americans to shop online. According to the survey from Adobe Analytics, U.S online shopping during the 2020 holiday season has reached a record high — saw a 32.2% increase from the year before, reaching $188.2 billion in 2020. Americans spent over $1 billion each day during the holiday season — for the first time ever and 50 days topped $2 billion, said Adobe. Online sales, including Black Friday and Cyber Monday, reached $100 billion for the first time last November. Mobile ecommerce sales accounted for 39%. Although conversion rates on smartphones trailed those of laptops and other devices, reached 3.31% on Cyber Monday, the report shows. 2020 marked the biggest holiday season for digital sales worldwide, Salesforce reported.
Gartner’s new research has revealed that CMOs rely on “low risk, low return” strategies in 2021. Nearly 73% of CMOs in North America, the UK, France and Germany say they will depend on existing customers rather than developing new markets to foster growth. The Gartner survey also showed that more than a third (39%) of CMOs s plan to increase sales from current customers in 2021 while 34% CMOs have decided to launch brand new products to existing customers. 18% of CMOs said they would like to enter a new market using current products, while 7% said they would enter a new market by introducing new products. 1% of CMOs anticipated zero sales growth, the survey shows.
The new eMarketer report shows that American adults spent more than 1 hour per day on digital media (across all kinds of devices) in 2020 and by the end of 2022, eMarketer predicts the total digital time in the U.S is going to extend by up to 8 hours. American adults logged 7 hours and 50 minutes per day on consuming digital media — up from 15% compared to 2019. People spent most of the time on smartphones — was at an all-time high compared to other devices. In fact, smartphone time surpassed 3 hours and 13 minutes per day for the first time in 2020 — up from 2 hours and 45 minutes in 2019. Digital time accounted for 57.5% of adults’ daily media time in 2020, and eMarketer forecast it will reach 60.2% by 2022.
For the first time, the video streaming service Netflix has extended to 200 million subscribers worldwide. According to Netflix’s fourth-quarter results, there were 8.5 million paid subscribers added during the period of October-December. Streaming giant has said that Netflix has added 37 million new subscribers in the year 2020. The series named “The Crown” was the main reason for more subscribers which performed the best during the pandemic days. The COVID-19 has accelerated that big shift from linear to streaming entertainment, said Spencer Neumann, a chief financial officer at Netflix.
Though the year 2020 has been a tough and challenging year for retail businesses, the retail e-commerce sales got an increment worldwide up to 27.6% in the year and totally the sales reached $4 trillion. This increment is expected to continue growing over the upcoming years. As e-commerce is a good option for the business people that generates more profits. When comparing from the year 2018, the e-commerce sales never reached $3 trillion worldwide. So accordingly, there is an estimation that it could reach $4 trillion in 2020, $5 trillion by 2022, and $6 trillion by the year 2024.