The Covid-19 pandemic has hit many aspects of modern life hard, but ecommerce sites – especially smaller ones like those in the Growth 2000 sector – have had a bumper year.
A survey conducted by the HelpCenter app shows that about 74% of Shopify store owners have either recorded a boost in sales or have not experienced any major changes. The survey was conducted between December 1, 2020 - December 10, 2020. The results are based on the answers from 160 Shopify vendors.
From the data, over one-third of all respondents recorded an increase in revenue by at least 40% since the outbreak of COVID-19. On 2021 sales expectations, over 80% of surveyed Shopify vendors project massive growth.
During the pandemic, 22.4% of Shopify vendors recorded increased revenue of up to 60%. Elsewhere, about 5.12% of the vendors experienced no less than 80% revenue growth while 12.1% report an increase of more than 100%.
Following the economic crisis as a result of COVID-19 about 27% of surveyed online business owners admit that 2020 was challenging. They admitted the pandemic has had a negative impact on their Shopify stores.
Almost 5 out of 10 of those who experienced a decline in the revenue report a decrease from 20% to 60%.
HelpCenter’s app researchers commented on the change in consumer behavior amid the health crisis: "Although it is difficult to predict when everything will get back to normal, one thing that has significantly changed during the pandemic and, likely, for good, is consumer habits. Not only that, with an increased demand for online shopping, more time on their hands due to recurring quarantine in some parts of the world, and basically unlimited access to any relevant information, customers are not lowering their expectations for businesses. It is actually the opposite – as the challenges continue to raise, customer expectations follow."