Online Sales Statistics of 2020 and the Need of Price Monitoring Tools

Need of Price Monitoring Tools

COVID-19 shaped a different scale of online sales all around the world. Online shopping experiences are gaining more and more importance with the recent situations. With the changes in shopping trends and expectations when it comes to online sales, brand owners, manufacturers and retailers are facing the big change for their sales. With COVID-19 crisis all around the world, consumers started to select more online options than offline stores. Online sales are growing with different options. Competition is gaining more speed. New customers are joining to the online shopping experiences each day. With such change, there are certain information that we all should take into consideration.

Pandemic Differences Of Customer Trends

Firstly, according to a new statistic related to online and offline sales, there are steep differences between rates. According to these statistics, offline sales will be declined by 7.9% at the end of 2020 and it will not reach to 2019’s levels until 2024. This means, online sales will measure great numbers in growth. With the pandemic and differences of customer trends in 2020, the rates of commerce are in great change. Within the same statistics grocery, apparel and electronics are going to sell more in the next recent years. Only groceries are grown 46% in 2020. And by 2024, 8% of global grocery sales will happen online and this makes one quarter of retail sales will be online.

According to another survey related to online sales, 53% of shoppers only return to a website if there is a fast, free and easy shipping options. These numbers show that online customers are interested with certain trends and choices if they provide ease and convenience when it comes to transportation of the goods. Also, there are certain news related to people’s behavior related to shopping that people will feel more comfortable to spend more money if COVID-19 crisis is over. There are many people out there who are keeping their money from spending.

With these numbers and rates that are changing in 2020, online shopping experiences are increasing more and more. People decide to purchase their needs online more than ever. And with the pandemic, people persist to look at different options online more.

Do You Want To Sale More?

Sale MoreTo keep up with these numbers and grow a business for online sales, manufacturers and retailers should take certain aspects into consideration. If a brand wants to sale more, it should focus on online availability. Since because people are choosing to not to spend their money in actual stores, online sales are getting more importance. And if you have an availability on websites for online sales, your business has a good chance to grow.

In recent days, little brand owners who were getting by with their local sales are realizing that “getting by” is not enough in these days. Especially with the pandemic, big brand owners and retailers who are ready to sell more and different products in general are being picked by online customers more. To keep up with a competition a giant brand seemed impossible for many small brands. However, with right kind of competition aspects that they can grow and provide an accessibility on their products for their customers and grow the numbers, they can manage to compete with these brands as well.

Need Of Price Monitoring?

Why Price Monitoring SoftwareHowever, just standing in online websites for sales might not be enough. Since there are more options online in recent years, now there are bigger competitions as well. To keep up with the prices and competition, brands should keep more information for their sales strategies in general. Price monitoring tools or competition monitoring software are here to keep their users updated when it comes to these numbers and competition. To have an access to an advanced technology Price Intelligence Tool like PriceRest might change how you look at the changing number of 2020 for sales.

Seeing who is selling in what price in which location is a must for a good sales strategy for every manufacturer and retailer. With the help of price monitoring software like PriceRest, you can find the detailed information of your competition easily! Join PriceRest today!

Price Rest

To have a better understanding of e-commerce for success, join today!

And see What PriceRest can do for you.

How to Recover Lost Consumers?
As a manufacturer or other online businesses, in recent days of 2020 became more important sales-wise. It is really important to keep up with the competition, especially for the special periods of Black Friday or other holidays. Online consumers decide spend more for themselves and for their loved ones and …
Why Manufacturers and Retailers Should Observe the E-Commerce Competition During Black Friday?
Price monitoring method for manufacturers or online retailers for e-commerce success is a must. When we talk about price monitoring, it includes two different things. First of all, price monitoring includes the competition control. You can check every other competitors’ prices and stocks. Second of all, it includes building up …
How To Sell To The Online Shopper In 2020
Manufacturers, retailers and other online businesses who faced the change and growth of ‘online sales’ in their commerce game know that addressing to the potential and actual online customers is a crucial part for their success. In 2020, many trends have been set in online sales, especially with the COVID-19 …
Pricing Strategies With Price Monitoring in 2020
Pricing strategies for manufacturers, retailers and other online businesses who would like to excel in eCommerce in 2020 are crucial. To understand the pricing strategies of others and build up your own pricing strategy can be a game changer. Competitors’ pricing points can be important to build up your reference …