E-commerce sales experienced massive growth during and following the COVID-19 pandemic, accelerating a shift already underway in people’s shopping preferences. According to Digital Commerce 360’s estimates, consumers spent $861.12 billion online with U.S. merchants in 2020, increasing 44% year-over-year (YoY); the highest annual U.S. e-commerce growth in at least two decades and nearly triple the 15.1% jump in 2019. 2021 shows no signs of slowing, as highlighted by two Logistyx clients recently in the news for quarterly earnings.
For Q1 2021, Home Depot’s online sales grew 27% YoY, accounting for 14.3% of total sales. Interestingly, with sales booming and shipping capacity shrinking, Home Depot has secured its own ship to help optimize its supply chain.
Oxford (Owner of Tommy Bahama, Lilly Pulitzer, and Southern Tide)
Full price e-commerce sales grew 55% to $74 million compared to the first quarter of fiscal 2019, with growth in all branded businesses, helping the company achieve total net sales of $265.8 million in Q1 2020.
Kudos to both companies for taking steps to capitalize on unprecedented e-commerce growth! Logistyx is proud to work with innovative companies on their e-commerce fulfillment capabilities to ensure excellent service, customer satisfaction, and substantial cost-savings.
To learn how you can optimize your omnichannel shipping strategy to effectively take advantage of the ongoing e-commerce surge, see how Logistyx can help.