Naturally, people panicked at the onset of the pandemic.
Although retailers around the world were hit hardest during this period, clothing companies, healthcare products, car rental services, and other industries have since announced bankruptcy.
The global epidemic has drastically changed consumer consumption patterns, and online shopping increased. Ecommerce is booming.
Online consumer purchases greatly influenced trending products. Ecommerce owners were all curious to know which product categories were gaining popularity during the epidemic.
Changes to Online Shopping Categories During the Pandemic
In March, Visualcapitalist reported changes in online shopping categories and which products skyrocketed or fell in demand during the pandemic.
Want to guess the top product whose sales plummeted?
Initially, the overall demand for outdoor travel products also decreased. For example, cameras and men's swimming trunks were among the top five items to see a decline in sales.
To no surprise, products that skyrocketed in sales included disposable gloves, cough suppressants, and kitchen cleaners.
Unexpectedly, toaster sales ranked second. Amazon's Cuisinart's toaster completely sold out. Another top contender was dumbbells; sales increased by 307%!
Ecommerce companies that were selling on-trend products or who quickly pivoted with the new trends made significant profits.
Global E-commerce Opportunities During COVID-19
According to data from the US Department of Commerce, consumers spent $146.47 billion online in the USA in the first quarter, ending March 31. This figure was up 14.5% from the same period in 2019.
Ecommerce sales aren't solely on the rise in the United States, but globally as well.
According to a March report from the global database Statista, the online orders growth trend of several major European countries, including the UK, Italy, Germany, and Spain, significantly fluctuated. In April, the UK had the highest weekly growth rate.
Among the 40 eCommerce companies surveyed, online sales in France increased by 11% - 21% in April, while sales of technology and entertainment products increased by 26% - 27%.
Even in Japan, where the eCommerce penetration rate is the lowest, many consumers who are unaccustomed to online shopping have begun to identify with the advantages of online shopping.
Take eCommerce giant, Amazon, for example. During the initial pandemic onslaught, Amazon garnered huge profits, with revenue up 26% year-to-year.
WebRetailer profiled Amazon's top 1000 sellers in 2020 by country and region. Here's a look at which countries, regions, and sellers are on the list.
This ranking, based on feedback Amazon sellers had received in the previous 12 months, is an essential indicator of sales. Amazon reports that most sellers receive feedback on 10% - 20% of their sales, so the number of products sold could be up to five to ten times higher than the collected feedback.
The following chart lists the top 10 Amazon sellers with the most feedback:
A German seller, Medimops, received the most feedback, with more than 6.3 million reviews.
Among the top 1000, the US was the highest-selling market, up 28 places from the previous year, followed by the UK, Germany, France, and Japan.
To no surprise, in correspondence with data collected in recent years, Chinese cross-border global eCommerce enterprises have increased and are accelerating towards globalization.
What's next? As we near September, Amazon Prime Day is (reportedly) around the corner, with Q4 is right on its heels. Find out what's trending and tips and tricks to stay on top in our blog post here.