Digital disruption is in full swing across just about every sector.
Pandemic-driven habits have formed, and they are not changing any time soon, if ever. As a share of total US retail, E-comm increased by $300B in the past two years. While the e-comm retail growth numbers have stabilized somewhat recently, it’s only going to go up. E-comm sales grew from $556B in September of 2019 to $850B by September 2021. And it’s not going back.
Online grocery shopping has penetrated most consumer segments, with an average across groups of 50% planning to maintain online grocery ordering and delivery; a category projected to double online purchase to over 20% of total sales by 2026.
Hybrid exercise, combining home and some on-site exercise, will be the norm leaving room for innovation for a brand that can offer both an in-home and on-site experience. Do Peloton and Equinox come together?
The pandemic has forever changed the world and accelerated digital adoption across almost every category. This aligns with the data: a larger percentage of Gen. Z and Millennials feel more like themselves online than offline.
Gonna be some interesting times ahead.