
5 Retail Trends Here to Stay & What Will Return to Normal
Over the last few months, the retail sector has grown in unprecedented ways. In response to COVID19 and changing lifestyle habits among consumers, many retail brands are recording a dramatic increase in online revenue.
Retail sales in the 3rd quarter of 2020 showed an estimated revenue of almost $1.5 trillion USD in the US alone. That’s a 12 percent increase from the 2nd quarter, and a 36 percent increase compared to the 3rd quarter of 2019. Interestingly, online retail sales from eCommerce platforms accounted for 14.3%, or about $200 billion USD, of the total retail sales.