Market Research Report
North America B2C E-Commerce and Payment Market 2020 and COVID-19's Impact
|Published by||yStats.com GmbH & Co. KG||Product code||945403|
|Published||Content info||96 Pages/Charts
Delivery time: 1-2 business days
|North America B2C E-Commerce and Payment Market 2020 and COVID-19's Impact|
|Published: June 25, 2020||Content info: 96 Pages/Charts||
B2C E-Commerce's share of retail sales in the U.S. and Canada boosted by the outbreak.
Due to a surge in online shopping activity during the COVID-19 outbreak in the U.S. and Canada, B2C E-Commerce sales in both countries are projected to see major growth in 2020, according to projections cited in the yStats.com report. As brick-and-mortar sales fell during the lockdown months of March and April, E-Commerce's share of total retail sales set new records, adding several percentage points in the U.S. and doubling in Canada. The product categories seeing the highest rates of online growth were food and groceries, health and beauty, hygiene items, and others.
The top payment method used by North American shoppers when buying online during the pandemic was credit card. Other popular payment means included debit card and digital wallets like PayPal. Fraud related to online shopping remained a major issue, with over 10,000 cases reported in the U.S. since the beginning of the year. When buying in-store, consumers tried out new payment methods, such as contactless card and mobile wallets, encouraged by social distancing measures and the avoidance of cash during COVID-19.
The leading destination of both Canadian and U.S. online shoppers during the pandemic outbreak was Amazon. The company is projected to increase its share of the U.S. B2C E-Commerce market to more than one-third in 2020, with Walmart in distant second. Walmart's online sales recorded impressive growth during the lockdown months. Similarly, Canadian Tire noticed a spike in the E-Commerce orders in Canada. The two retailers ramped up their omnichannel efforts to continue to serve their customers during the pandemic both in-store and online.
Amazon.com Inc, Best Buy Co Inc, Canadian Tire Corp Ltd, eBay Inc, Etsy Inc, PayPal Holdings Inc, Walmart Inc.