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Firehose #167: 🛍 Shop 'till you drop. 🛍
When the pandemic began, we bought 16% of our things online. Now, we buy nearly 34% of our things online. That’s the kind of hockey stick growth investors like to see, and the ecommerce infrastructure companies’ valuations are skyrocketing accordingly.
Packy McCormick • Shopify and the Hard Thing About Easy Things
Community commerce was born out of lockdown. There has been a 74% surge in online shopping in 2020 and 85% of people purchase products or services after seeing them reviewed on social media.
The Drum • When creators, culture and community commerce collide
Current events and an accelerated consumer shift to ecommerce are fueling Amazon’s growth in a highly competitive market. As consumers turned to online stores (and Amazon in particular) for their everyday essentials during the COVID-19 pandemic, brands and retailers followed with a greater ecommerce presence and competition for shoppers’ dollars. A... See more