Global e-commerce sales to hit $ 4.2 trillion as online wave continues, Adobe Reports says

Ecommerce sales in this country and around the world surged in March, proving once again that the online shopping shift triggered by the pandemic is not slowing, according to the latest Adobe

Digital economy index.

Adobe, for the first time, included global figures in its report. It predicts that global e-commerce sales will reach $ 4.2 trillion this year, with U.S. consumers accounting for nearly a quarter of that spending.

Stimulus checks and rising vaccination rates pushed e-commerce sales in the United States to all-time highs in March. Adobe estimates that Americans spent an additional $ 8 billion online, compared to normal projections for the period between March 11, the day the US bailout stimulus bill was signed, and March 31. According to Adobe, the extra spending was almost like having a Black Friday-level sales event in March. Black Friday 2020 generated $ 9 billion in online sales.

“The changes we’re seeing are things that will continue for generations,” said Jason Woosley, vice president, commerce and developer experience, Adobe. “There is just too much momentum and durability.”

Adobe polls found that 9% of US consumers, 8% of Japanese consumers and 15% of UK consumers said they had never bought anything online before March 2020. “This is a whole new audience for commerce electronics, ”Woosley said. “These consumers are likely to be here to stay.”

U.S. consumers spent $ 78 billion online in March, up 49% year-on-year, the strongest growth since July 2020.

For the first quarter of 2021, e-commerce sales in the United States increased 39% year-on-year to $ 199 billion.

Adobe expects ecommerce spending in the United States this year to total between $ 850 billion and $ 930 billion, and to exceed $ 1,000 billion in 2022.

Global e-commerce sales reached $ 876 billion in the first quarter, up 38% year-on-year.

In the United States, the promise that new stimulus checks would be mailed has apparently led more consumers to use the buy now, pay later options for their online purchases. Buy now, pay later, purchases increased 166% year-on-year in March.

Toys, furniture and bedding, video games and auto parts were the top purchases for U.S. consumers in March, according to Adobe.

Sales of grocery products continued to show strong growth in the United States in March. Between March 7 and March 21, sales increased by 17% compared to a two-week period in August 2020.

Consumer surveys in the UK, Japan and the US have shown that online shopping is emerging as the preferred method of shopping for groceries for a growing number of consumers. More than half of consumers in all three countries said they think they’ll save money by shopping online.

In the United States, 32% of consumers said they now felt more comfortable visiting stores in person than in 2020, while 23% said they felt less comfortable visiting stores in person. do it.