Retrospective metrics show where and how discretionary money is being spent, including the expansion of online purchasing. This article shows growth rates from 2019 to 2022 in the retail sector.
Online retail sales grew much faster than total retail sales during the pandemic, significantly increasing the e-commerce penetration of retail in North America. Analytics show e-commerce owns over 20 percent of total retail sales in the United States.
Source: Digital Commerce 360, July 21, 2023. Link.
INSIGHTS: Growth numbers specific to the animal health industry vary and have frequently used 2017 and 2018 performance against which to benchmark.