Question of the Day: What was the percentage increase in e-commerce retail sales in the April - June quarter compared to 2019?
- Are you/your family purchasing more online than you did last year?
- What items are you purchasing online vs. purchasing in-store?
- Do you think your purchasing behavior (online vs. in-store) will change post-coronavirus?
Behind the numbers (Axios):
The big picture: Stuck at home for weeks on end, we turned to the internet and delivery to meet our consumer needs. That's been a boon for many tech companies, but it's not yet clear whether consumers will return to the real world once the pandemic ends.
By the numbers: Data released this week by the U.S. Census Bureau indicated that U.S. e-commerce retail sales for the second quarter of 2020 rose to $211.5 billion, up 31.8% from the first quarter and 44.5% from the same period last year.
Interested in purchasing behaviors like this transition from in-person to online? Be sure to check out NGPF's Behavioral Finance mini-unit.
Looking for more Questions of the Day to get your class off to a great start? Here's a library with over 300 sorted by topic!
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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