We’re seeing increasing evidence that the COVID-19 boosted surge in online retail is here to stay. Even after retail stores reopened on June 15, online retail revenue continued to grow. Indeed, on the day shops across the UK reopened, e-commerce revenue was up 41% Y-o-Y. Ten days later, on June 24, Y-o-Y revenue growth had more than doubled to 88%.
Online retail data is equally encouraging on the other side of the Atlantic, where US online business revenue grew by nearly 100% in the three months following lockdown. While the growth curve has flattened somewhat, revenue growth was still up Y-o-Y at the end of June.