COVID-19 has massively accelerated the growth of e-commerce, according to an Adobe report released today. Total online spending in May hit $82.5 billion, up 77% year-over-year.
“According to our data, it would’ve taken between 4 and 6 years to get to the levels that we saw in May if the growth continued at the same levels it was at for the past few years,” Vivek Pandya, Adobe’s Digital Insights Manager told me via email. “We typically don’t expect to see surges at this level, at any time outside of the holiday season. For context, last year’s holiday season drove $142.5 billion dollars from November 1st to December 31st, and that was a 13% year-over-year increase.”