Retail is undergoing widespread transformation, driven by the rise in ecommerce, which in turn is prompting changes in store formats and to the evolution of omni-channel business models. All this activity has been accelerated by COVID-19. eCommerce was up 37% in 2Q20 compared with 1Q 20 and represented 16.1% of U.S. total retail sales versus just 10.1% for the same period in 2019.
Last year, many retailers experienced an increase in ecommerce in a matter of weeks that equaled the share they'd spent the past two decades building. Consumers have flocked to individual retail websites as well as to online marketplaces such as Amazon, Etsy, Houzz, Walmart, and Wish.
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