Markets

The Pandemic Economy: What are Shoppers Buying Online During COVID-19?

Published

2 years ago

April 8, 2020

Katie Jones

Ecommerce category growth during covid-19 pandemic

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The Fastest Growing and Declining E-Commerce Categories

The COVID-19 pandemic is having a significant impact on every aspect of life, including how people shop for their necessities, and their not-so-necessities.

With online retail sales estimated to reach an eye-watering $6.5 trillion by 2023, the ecommerce sector was already booming. But since the outbreak, online shopping has been catapulted into complete overdrive. Even the largest retailers on the planet are struggling to keep up with the unprecedented consumer demand—but what exactly are people buying?

To answer this question, retail intelligence firm Stackline analyzed ecommerce sales across the U.S. and compiled a list of the fastest growing and declining ecommerce categories (March 2020 vs. March 2019) with surprising results.

The Frenzy of Buyer Behavior

As people come to terms with their new living situations, their buying behavior has adapted to suit their needs. While panic buying may have slowed in some countries, consumers continue to stock up on supplies, or “pandemic pantry products”.

Many consumers are also using their newfound time to focus on their health, with 85% of consumers taking up some kind of exercise while in social isolation, and 40% of them saying they intend to keep it up when restrictions are lifted.

These changing behaviors have resulted in a number of product categories experiencing a surge in demand — and although a lot of them are practical, others are wonderfully weird.

The Fastest Growing Categories

While the below list features several shelf-stable items, it seems as though consumers are taking matters into their own hands, with bread making machines sitting in second place and retailers selling out of their top models.

It’s clear from the list that consumers are considering positive changes to their lifestyle while in isolation, as fitness, smoking cessation, and respiratory categories are all experiencing growth.

Explore the 100 fastest growing product categories below:

Rank	Category	% Change in March (2020 vs. 2019)
#1	Disposable Gloves	670%
#2	Bread Machines	652%
#3	Cough & Cold	535%
#4	Soups	397%
#5	Dried Grains & Rice	386%
#6	Packaged Foods	377%
#7	Fruit Cups	326%
#8	Weight Training	307%
#9	Milk & Cream	279%
#10	Dishwashing Supplies	275%
#11	Paper Towels	264%
#12	Hand Soap & Sanitizer	262%
#13	Pasta	249%
#14	Vegetables	238%
#15	Flour	238%
#16	Facial Tissues	235%
#17	Allergy Medicine	232%
#18	Women’s Health	215%
#19	Cereals	214%
#20	Power Generators	210%
#21	Laundry Supplies	200%
#22	Household Cleaners	195%
#23	Soap & Body Wash	194%
#24	Toilet Paper	190%
#25	Jerky & Dried Meats	187%
#26	Chips & Pretzels	186%
#27	Crackers	184%
#28	Health Monitors	182%
#29	Popcorn	179%
#30	Computer Monitors	172%
#31	Fitness Equipment	170%
#32	Single Vitamins	166%
#33	Nut & Seed Butters	163%
#34	Cat Food	162%
#35	Fruit Snacks	162%
#36	Baby Care Products	162%
#37	Refrigerators	160%
#38	Baking Mixes	160%
#39	Toilet Accessories	160%
#40	Dog Food	159%
#41	Diapers	154%
#42	Yoga Equipment	154%
#43	Bottled Beverages	153%
#44	Baby Meals	153%
#45	Cookies	147%
#46	Digestion & Nausea	144%
#47	Snack Foods	141%
#48	Herbal Supplements	136%
#49	Cooking Oils	135%
#50	Water	130%
#51	Incontinence & Tummy	129%
#52	Mutivitamin	126%
#53	Cat Litter	125%
#54	Training Pads and Trays	125%
#55	Juices	125%
#56	Smoking Cessation	122%
#57	Dried Fruit & Raisins	120%
#58	Salt & Pepper Seasoning	118%
#59	Craft Kits & Projects	117%
#60	Batteries	116%
#61	Trash Bags	116%
#62	Nuts & Seeds	116%
#63	Hair Coloring	115%
#64	Sauce & Gravy	115%
#65	Deli Foods	114%
#66	Syrups	114%
#67	Breads & Bakery	114%
#68	Minerals	113%
#69	Condiments	111%
#70	First Aid	108%
#71	Nail Care	108%
#72	Humidifiers	105%
#73	Art Paint	104%
#74	Office Chairs	104%
#75	Deodorant	103%
#76	Jams, Jellies & Spreads	102%
#77	Coffee	101%
#78	Spices & Seasoning	100%
#79	Skin Care	99%
#80	Pain Relievers	99%
#81	Cooking Vinegars	98%
#82	Air Purifiers	97%
#83	Granola & Nutrition Bars	97%
#84	Pudding & Gelatin	97%
#85	Toy Clay & Dough	95%
#86	Single Spices	95%
#87	Bird Food & Treats	91%
#88	Lab & Science Products	90%
#89	Eczema & Psoriasis	90%
#90	Ping Pong	89%
#91	Chocolate	86%
#92	Baking Ingredients	84%
#93	Energy Supplements	84%
#94	Respiratory	82%
#95	Office Desks	82%
#96	Potty Training Supplies	82%
#97	Herbs, Spices & Seasonings	82%
#98	Keyboard & Mice	80%
#99	Body Lotion	79%
#100	Safes	69%

Interestingly, toilet paper has seen more growth than baby care products, and cured meats have seen more growth than water. But while some categories are experiencing a drastic increase in demand, others are slumping in the pandemic economy.

The Fastest Declining Categories

An unprecedented wave of event and vacation cancellations is having a huge impact on the products people consume. For instance, luggage and suitcases, cameras, and men’s swimwear have all seen a dip in sales.

See the full list of 100 fastest declining categories below:

Rank	Category	% Change in March (2020 vs. 2019)
#1	Luggage & Suitcases	-77%
#2	Briefcases	-77%
#3	Cameras	-64%
#4	Men’s Swimwear	-64%
#5	Bridal Clothing	-63%
#6	Men's Formal Wear	-62%
#7	Women’s Swimwear	-59%
#8	Rash Guards	-59%
#9	Boy’s Athletic Shoes	-59%
#10	Gym Bags	-57%
#11	Backpacks	-56%
#12	Snorkelling Equipment	-56%
#13	Girl’s Swimwear	-55%
#14	Baseball Equipment	-55%
#15	Event & Party Supplies	-55%
#16	Motorcycle Protective Gear	-55%
#17	Camera Bags & Cases	-54%
#18	Women’s Suits & Dresses	-53%
#19	Women’s Boots	-51%
#20	Cargo Racks	-51%
#21	Women’s Sandals	-50%
#22	Drones	-50%
#23	Boy's Active Clothing	-50%
#24	Lunch Boxes	-50%
#25	Store Fixtures & Displays	-50%
#26	Automotive Mats	-50%
#27	Men’s Outerwear	-49%
#28	Watches & Accessories	-49%
#29	Cargo Bed Covers	-48%
#30	Track & Field Equipment	-48%
#31	Ceiling Lighting	-47%
#32	Camera Lenses	-47%
#33	Girl’s Coats and Jackets	-47%
#34	Women’s Hats & Caps	-47%
#35	Women's Outerwear	-47%
#36	Video Cameras	-46%
#37	Wheels & Tires	-46%
#38	Motorcycle Parts	-45%
#39	Women’s Wallets	-45%
#40	Shocks & Struts	-44%
#41	Transmission & Parts	-44%
#42	Girl’s Athletic Shoes	-44%
#43	Women’s Shoes	-44%
#44	Telescopes	-44%
#45	Sunglasses & Eyeglasses	-43%
#46	Men’s Tops	-41%
#47	Video Projectors	-40%
#48	Men’s Athletic Shoes	-40%
#49	Marine Electronics	-40%
#50	Hand Tools	-40%
#51	Wine Racks	-40%
#52	Men's Shoes	-40%
#53	Clocks	-39%
#54	Baby Girl’s Shoes	-39%
#55	Bracelets	-39%
#56	Men’s Boots	-39%
#57	Tapestries	-39%
#58	Camping Equipment	-39%
#59	Men’s Bottoms	-38%
#60	Cell Phones	-38%
#61	Tool Storage & Organizers	-38%
#62	Necklaces	-38%
#63	Swimming Equipment	-37%
#64	Men’s Hats & Caps	-37%
#65	Girl’s Shoes	-37%
#66	Industrial Tools	-36%
#67	Juicers	-36%
#68	Desktops	-35%
#69	Classroom Furniture	-35%
#70	Bar & Wine Tools	-35%
#71	Glassware & Drinkware	-35%
#72	Musical Instruments	-34%
#73	Power Winches	-34%
#74	Home Bar Furniture	-34%
#75	Office Storage Supplies	-34%
#76	Girl's Active Clothing	-34%
#77	Women’s Tops	-34%
#78	Braces, Splints & Supports	-34%
#79	Car Anti-theft	-34%
#80	Rings	-34%
#81	Blankets & Quilts	-33%
#82	Women's Athletic Shoes	-33%
#83	Kitchen Sinks	-33%
#84	Golf Clubs	-33%
#85	Equestrian Equipment	-33%
#86	GPS & Navigation	-32%
#87	Recording Supplies	-32%
#88	Home Audio	-32%
#89	Boy's Accessories	-32%
#90	Earrings	-32%
#91	Dining Sets	-31%
#92	Calculators	-31%
#93	Boy's Shoes	-31%
#94	Volleyball Equipment	-31%
#95	Strollers	-31%
#96	Coolers	-30%
#97	Sanders & Grinders	-30%
#98	Men's Activewear	-29%
#99	Living Room Furniture	-29%
#100	Climbing & Hiking Bags	-28%

Regardless of which list a product falls under, it is clear that the pandemic has impacted retailers of every kind in both positive and negative ways.

The New Normal?

Officially the world’s largest retailer, Amazon has announced it can no longer keep up with consumer demand. As a result, it will be delaying the delivery of non-essential items, or in some cases not taking orders for non-essentials at all.

This presents a double-edged sword, as the new dynamic that is bringing some retailers unprecedented demand could also bring about an untimely end for others.

Meanwhile, the question remains: will this drastic change in consumer behavior stabilize once we flatten the curve, or is this our new normal?

Related Topics:amazon walmart ecommerce pandemic covid-19 panic buying retail industry essential services consumer need states

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Technology

Thematic Investing: 3 Key Trends in Cybersecurity

Cyberattacks are becoming more frequent and sophisticated. Here’s what investors need to know about the future of cybersecurity.

Written By

Marcus Lu

Graphics & Design

Sam Parker

Published August 11, 2022 • Updated August 11, 2022 •

Thematic Investing: 3 Key Trends in Cybersecurity

In 2020, the global cost of cybercrime was estimated to be around $945 billion, according to McAfee.

It’s likely even higher today, as multiple sources have recorded an increase in the frequency and sophistication of cyberattacks during the pandemic.

In this infographic from Global X ETFs, we highlight three major trends that are shaping the future of the cybersecurity industry that investors need to know.

Trend 1: Increasing Costs

Research from IBM determined that the average data breach cost businesses $4.2 million in 2021, up from $3.6 million in 2017. The following table breaks this figure into four components:

Cost Component	Value ($)
Cost of lost business	$1.6M
Detection and escalation	$1.2M
Post breach response	$1.1M
Notification	$0.3M
Total	$4.2M

The greatest cost of a data breach is lost business, which results from system downtimes, reputational losses, and lost customers. Second is detection and escalation, including investigative activities, audit services, and communications to stakeholders.

Post breach response includes costs such as legal expenditures, issuing new accounts or credit cards (in the case of financial institutions), and other monitoring services. Lastly, notification refers to the cost of notifying regulators, stakeholders, and other third parties.

To stay ahead of these rising costs, businesses are placing more emphasis on cybersecurity. For example, Microsoft announced in September 2021 that it would quadruple its cybersecurity investments to $20 billion over the next five years.

Trend 2: Remote Work Opens New Vulnerabilities

According to IBM, companies that rely more on remote work experience greater losses from data breaches. For companies where 81 to 100% of employees were remote, the average cost of a data breach was $5.5 million (2021). This dropped to $3.7 million for companies that had under 10% of employees working from home.

A major reason for this gap is that work-from-home setups are typically less secure. Phishing attacks surged in 2021, taking advantage of the fact that many employees access corporate systems through their personal devices.

Type of Attack	Number of attacks in 2020	Number of attacks in 2021	Growth (%)
Spam phishing	1.5M	10.1M	+573%
Credential phishing	5.5M	6.2M	+13%

As detected by Trend Micro’s Cloud App Security.

Spam phishing refers to “fake” emails that trick users by impersonating company management. They can include malicious links that download ransomware onto the users device. Credential phishing is similar in concept, though the goal is to steal a person’s account credentials.

A tactic you may have seen before is the Amazon scam, where senders impersonate Amazon and convince users to update their payment methods. This strategy could also be used to gain access to a company’s internal systems.

Trend 3: AI Can Reduce the Cost of a Data Breach

AI-based cybersecurity can detect and respond to cyberattacks without any human intervention. When fully deployed, IBM measured a 20% reduction in the time it takes to identify and contain a breach. It also resulted in cost savings upwards of 60%.

A prominent user of AI-based cybersecurity is Google, which uses machine learning to detect phishing attacks within Gmail.

Machine learning helps Gmail block spam and phishing messages from showing up in your inbox with over 99.9% accuracy. This is huge, given that 50-70% of messages that Gmail receives are spam.
– Andy Wen, Google

As cybercrime escalates, Acumen Research and Consulting believes the market for AI-based security solutions will reach $134 billion by 2030, up from $15 billion in 2021.

Introducing the Global X Cybersecurity ETF

The Global X Cybersecurity ETF (Ticker: BUG) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx Cybersecurity Index. See below for industry and country-level breakdowns, as of June 2022.

Sector (By security type)	Weight
Cloud	28.0%
Network	25.1%
Identity	17.7%
Internet	15.0%
Endpoint	12.8%

Country	Weight
🇺🇸 U.S.	71.6%
🇮🇱 Israel	13.2%
🇬🇧 UK	8.2%
🇯🇵 Japan	5.5%
🇰🇷 South Korea	0.9%
🇨🇦 Canada	0.6%

Totals may not equal 100% due to rounding.

Investors can use this passively managed solution to gain exposure to the rising adoption of cybersecurity technologies.

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Visualizing Major Layoffs At U.S. Corporations

This infographic highlights the accelerating pace of layoffs so far in 2022, as businesses cut costs ahead of a potential recession.

Published

3 days ago

August 9, 2022

Marcus Lu

Visualizing Major Layoffs at U.S. Corporations

Hiring freezes and layoffs are becoming more common in 2022, as U.S. businesses look to slash costs ahead of a possible recession.

Understandably, this has a lot of people worried. In June 2022, Insight Global found that 78% of American workers fear they will lose their job in the next recession. Additionally, 56% said they aren’t financially prepared, and 54% said they would take a pay cut to avoid being laid off.

In this infographic, we’ve visualized major layoffs announced in 2022 by publicly-traded U.S. corporations.

Note: Due to gaps in reporting, as well as the very large number of U.S. corporations, this list may not be comprehensive.

An Emerging Trend

Layoffs have surged considerably since April of this year. See the table below for high-profile instances of mass layoffs.

Company	Industry	Layoffs (#)	Month
Peloton	Consumer Discretionary	2,800	February
Funko	Consumer Discretionary	258	April
Robinhood	Financial Services	~400	April
Nektar Therapeutics	Biotechnology	500	April
Carvana	Automotive	2,500	May
Doma	Financial Services	310	May
JP Morgan Chase & Co.	Financial Services	~500	June
Tesla	Automotive	200	June
Coinbase	Financial Services	1,100	June
Netflix	Technology	300	June
CVS Health	Pharmaceutical	208	June
StartTek	Technology	472	June
Ford	Automotive	8,000	July
Rivian	Automotive	840	July
Peloton	Consumer Discretionary	2,000	July
LoanDepot	Financial Services	2,000	July
Invitae	Biotechnology	1,000	July
Lyft	Technology	60	July
Meta	Technology	350	July
Twitter	Technology	<30	July
Vimeo	Technology	72	July
Robinhood	Financial Services	~795	August

Here’s a brief rundown of these layoffs, sorted by industry.

Automotive

Ford has announced the biggest round of layoffs this year, totalling roughly 8,000 salaried employees. Many of these jobs are in Ford’s legacy combustion engine business. According to CEO Jim Farley, these cuts are necessary to fund the company’s transition to EVs.

We absolutely have too many people in some places, no doubt about it.
– Jim Farley, CEO, Ford

Speaking of EVs, Rivian laid off 840 employees in July, amounting to 6% of its total workforce. The EV startup pointed to inflation, rising interest rates, and increasing commodity prices as factors. The firm’s more established competitor, Tesla, cut 200 jobs from its autopilot division in the month prior.

Last but not least is online used car retailer, Carvana, which cut 2,500 jobs in May. The company experienced rapid growth during the pandemic, but has since fallen out of grace. Year-to-date, the company’s shares are down more than 80%.

Financial Services

Fearing an impending recession, Coinbase has shed 1,100 employees, or 18% of its total workforce. Interestingly, Coinbase does not have a physical headquarters, meaning the entire company operates remotely.

A recession could lead to another crypto winter, and could last for an extended period. In past crypto winters, trading revenue declined significantly.
Brian Armstrong, CEO, Coinbase

Around the same time, JPMorgan Chase & Co. announced it would fire hundreds of home-lending employees. While an exact number isn’t available, we’ve estimated this to be around 500 jobs, based on the original Bloomberg article. Wells Fargo, another major U.S. bank, has also cut 197 jobs from its home mortgage division.

The primary reason for these cuts is rising mortgage rates, which are negatively impacting the demand for homes.

Technology

Within tech, Meta and Twitter are two of the most high profile companies to begin making layoffs. In Meta’s case, 350 custodial staff have been let go due to reduced usage of the company’s offices.

Many more cuts are expected, however, as Facebook recently reported its first revenue decline in 10 years. CEO Mark Zuckerberg has made it clear he expects the company to do more with fewer resources, and managers have been encouraged to report “low performers” for “failing the company”.

Realistically, there are probably a bunch of people at the company who shouldn’t be here.
– Mark Zuckerberg, CEO, Meta

Also in July, Twitter laid off 30% of its talent acquisition team. An exact number was not available, but the team was estimated to have less than 100 employees. The company has also enacted a hiring freeze as it stumbles through a botched acquisition by Elon Musk.

More Layoffs to Come…

Layoffs are expected to continue throughout the rest of this year, as metrics like consumer sentiment enter a decline. Rising interest rates, which make it more expensive for businesses to borrow money, are also having a negative impact on growth.

In fact just a few days ago, trading platform Robinhood announced it was letting go 23% of its staff. After accounting for its previous layoffs in April (9% of the workforce), it’s fair to estimate that this latest round will impact nearly 800 people.