MEMPHIS, Tenn. (WMC) - While people are at home, online sales have skyrocketed in just a month. Adobe Analytics said online shopping has increased nearly 49 percent from March to April.
It seems people are shopping online for their quarantine needs. Adobe Analytics reports pajama sales are up and pants sales are down.
“The one firm that has seemed to benefit from online sales is FedEx,” Dr. John Gnuschke, Director of the Sparks Bureau of Business and Economic Research at the University of Memphis said.
The Memphis-based shipping giant has seen an increase in package volume at its facilities. in a statement the company said:
"We've seen an increase in e-commerce orders and shipments - and we expect this to continue. Each of our operating companies have developed business continuity plans to ensure we are optimizing our services to best support this increased demand, while also keeping team member and customer health & safety our number one priority."
“We have FedEx here,” Whitney Hardy, Director of Entrepreneurial Programs at Epicenter said. “We can get those orders out really fast. E-commerce is something we can tackle here.”
Epicenter is a non-profit supporting Memphis entrepreneurs. Hardy said many businesses have reached out to the organization, concerned with how to move their business online.
“We have had some who just don’t know the different options out there for us to sell or how do we sell on social media,” Hardy said.
With an increase in online sales, Dr. Gnuschke said the stakes are only higher for small businesses.
“What the move to e-commerce has done was increase the level of competition for every business,” he said. “When you compete with Amazon and Walmart it becomes very difficult for small businesses in particular.”
While sales are up online, Gnuschke said spending everywhere else will be down. For some e-commerce resources, click here.