“Industry innovations and consumer acceptance of new technology are surging because of the coronavirus (COVID-19). One area that has seen dramatic changes is online, with one market researcher saying the pandemic has pushed e-commerce five years into the future.
The sales figures experienced by retailers such as Walmart Inc., Target Corp. and Amazon.com, Inc. during the year tell a dramatic story. Walmart e-commerce sales shot up 97% during the second quarter of fiscal 2020 as shoppers shifted away from visiting stores to delivery and click-and-collect. Target Corp.’s second-quarter results were equally remarkable. Digital comparable store sales spiked nearly 200% during the quarter. Breaking down digital sales by channel mix, same-day services experienced 279% comp growth, drive-up grew 734%, and sales fulfilled by the retailer’s Shipt service were up more than 350%.
Amazon’s performance was as equally impressive as Target and Walmart. The company said at the end of July that quarterly online grocery sales had jumped 200% year-over-year and that demand was still “super high.” Management attributed the growth to Prime members who are shopping more often.”