Shopping Changed Forever?

source

$400 Billion Sales Quarter = $25 Million Per Minute

I think most countries around the world have been closed for for a certain period of time now and have been opening up at different speeds. We have another announcement tonight on what is happening most likely for the end of the month.

I do believe the virus has changed shopping habits forever and the big malls that we have known and some love will struggle big time in the future. I know it has only been a short time but people have learnt new skills like shopping online. Many of us had done it before but many more had been forced to try it for the first time and I bet you they have really enjoyed the experience.

The large retailers that have a presence on line and is user friendly will have benefited beyond their wildest dreams. I believe it is a good habit that has been formed as there is no need to jump in the car and be part of a swarm joining queues in these crazy shopping centers. I have never enjoyed them and have never seen the attraction.

Amazon which is the largest online retailer in the world isn't in some countries yet but has had a 26 percent growth over the same period since last year. That equates to around $75 Billion extra in spending with total sales for the first three months topping $400 Billion. That is around $4 Billion per day every day and is kind of mind boggling. Breaking that down even further that is something like $25 Million per minute that is being spent.

Walmart has seen something similar as their market share has grown over this shut down period seeing the online side grow by 74 percent and an overall growth of nearly $10 Billion on last years figures. This is massive one one that will drive them forward competing for more of the lucrative online market space.

I think many families were forced into doing more shopping online than normal and I know from just what we purchased. One dish washer and one stove plus a kettle. I knew that to get the items fixed would most likely come in close to the replacements so just toss them out instead. Nothing is built to last and if something lasts over 5 or 6 years today you are lucky. We have electricity surges regularly so most of the insides are screwed up by this. A friend of mine had a surge that turned his normal household lights into spot lights during the lock down and every single appliance in his home was fried because of this. He is an electrician by trade and it only effected 5 houses in his street and had never seen anything like it before.

Once everything opens up I do expect the retailers who haven't done well online to have to re access very quickly as things have changed permanently. Things like this show you how things can change literally overnight and why crypto currencies need to be patient as the change is happening all the time.