The Fastest Growing and Declining E-commerce Categories
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The Pandemic Economy: What are Shoppers Buying Online During COVID-19?

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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:

RankCategory% Change in March (2020 vs. 2019)
#1Disposable Gloves670%
#2Bread Machines652%
#3Cough & Cold535%
#4Soups397%
#5Dried Grains & Rice386%
#6Packaged Foods377%
#7Fruit Cups326%
#8Weight Training307%
#9Milk & Cream279%
#10Dishwashing Supplies275%
#11Paper Towels264%
#12Hand Soap & Sanitizer262%
#13Pasta249%
#14Vegetables238%
#15Flour238%
#16Facial Tissues235%
#17Allergy Medicine232%
#18Women’s Health215%
#19Cereals214%
#20Power Generators210%
#21Laundry Supplies200%
#22Household Cleaners195%
#23Soap & Body Wash194%
#24Toilet Paper190%
#25Jerky & Dried Meats187%
#26Chips & Pretzels186%
#27Crackers184%
#28Health Monitors182%
#29Popcorn179%
#30Computer Monitors172%
#31Fitness Equipment170%
#32Single Vitamins166%
#33Nut & Seed Butters163%
#34Cat Food162%
#35Fruit Snacks162%
#36Baby Care Products162%
#37Refrigerators160%
#38Baking Mixes160%
#39Toilet Accessories160%
#40Dog Food159%
#41Diapers154%
#42Yoga Equipment154%
#43Bottled Beverages153%
#44Baby Meals153%
#45Cookies147%
#46Digestion & Nausea144%
#47Snack Foods141%
#48Herbal Supplements136%
#49Cooking Oils135%
#50Water130%
#51Incontinence & Tummy129%
#52Mutivitamin126%
#53Cat Litter125%
#54Training Pads and Trays125%
#55Juices125%
#56Smoking Cessation122%
#57Dried Fruit & Raisins120%
#58Salt & Pepper Seasoning118%
#59Craft Kits & Projects117%
#60Batteries116%
#61Trash Bags116%
#62Nuts & Seeds116%
#63Hair Coloring115%
#64Sauce & Gravy115%
#65Deli Foods114%
#66Syrups114%
#67Breads & Bakery114%
#68Minerals113%
#69Condiments111%
#70First Aid108%
#71Nail Care108%
#72Humidifiers105%
#73Art Paint104%
#74Office Chairs104%
#75Deodorant103%
#76Jams, Jellies & Spreads102%
#77Coffee101%
#78Spices & Seasoning100%
#79Skin Care99%
#80Pain Relievers99%
#81Cooking Vinegars98%
#82Air Purifiers97%
#83Granola & Nutrition Bars97%
#84Pudding & Gelatin97%
#85Toy Clay & Dough95%
#86Single Spices95%
#87Bird Food & Treats91%
#88Lab & Science Products90%
#89Eczema & Psoriasis90%
#90Ping Pong89%
#91Chocolate86%
#92Baking Ingredients84%
#93Energy Supplements84%
#94Respiratory82%
#95Office Desks82%
#96Potty Training Supplies82%
#97Herbs, Spices & Seasonings82%
#98Keyboard & Mice80%
#99Body Lotion79%
#100Safes69%

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:

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

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Investor Education

Visualizing The World’s Largest Sovereign Wealth Funds

To date, only two countries have sovereign wealth funds worth over $1 trillion. Learn more about them in this infographic.

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Visualized: The World’s Largest Sovereign Wealth Funds

Did you know that some of the world’s largest investment funds are owned by national governments?

Known as sovereign wealth funds (SWF), these vehicles are often established with seed money that is generated by government-owned industries. If managed responsibly and given a long enough timeframe, an SWF can accumulate an enormous amount of assets.

In this infographic, we’ve detailed the world’s 10 largest SWFs, along with the largest mutual fund and ETF for context.

The Big Picture

Data collected from SWFI in October 2021 ranks Norway’s Government Pension Fund Global (also known as the Norwegian Oil Fund) as the world’s largest SWF.

The world’s 10 largest sovereign wealth funds (with fund size benchmarks) are listed below:

CountryFund NameFund TypeAssets Under Management (AUM) 
🇳🇴 Norway Government Pension Fund Global SWF$1.3 trillion
🇺🇸 U.S.Vanguard Total Stock Market Index FundMutual fund$1.3 trillion
🇨🇳 ChinaChina Investment CorporationSWF$1.2 trillion
🇰🇼 Kuwait Kuwait Investment Authority SWF$693 billion
🇦🇪 United Arab EmiratesAbu Dhabi Investment Authority SWF$649 billion
🇭🇰 Hong Kong SARHong Kong Monetary Authority Investment PortfolioSWF$581 billion
🇸🇬 SingaporeGovernment of Singapore Investment CorporationSWF$545 billion
🇸🇬 SingaporeTemasek SWF$484 billion
🇨🇳 ChinaNational Council for Social Security Fund SWF$447 billion
🇸🇦 Saudi ArabiaPublic Investment Fund of Saudi Arabia SWF$430 billion
🇺🇸 U.S.State Street SPDR S&P 500 ETF TrustETF$391 billion
🇦🇪 United Arab EmiratesInvestment Corporation of DubaiSWF$302 billion 

SWF AUM gathered on 10/08/2021. VTSAX and SPY AUM as of 09/30/2021.

So far, just two SWFs have surpassed the $1 trillion milestone. To put this in perspective, consider that the world’s largest mutual fund, the Vanguard Total Stock Market Index Fund (VTSAX), is a similar size, investing in U.S. large-, mid-, and small-cap equities.

The Trillion Dollar Club

The world’s two largest sovereign wealth funds have a combined $2.5 trillion in assets. Here’s a closer look at their underlying portfolios.

1. Government Pension Fund Global – $1.3 Trillion (Norway)

Norway’s SWF was established after the country discovered oil in the North Sea. The fund invests the revenue coming from this sector to safeguard the future of the national economy. Here’s a breakdown of its investments.

Asset Class% of Total AssetsCountry DiversificationNumber of Securities
Public Equities72.8%69 countries9,123 companies
Fixed income24.7%45 countries1,245 bonds
Real estate2.5%14 countries867 properties

As of 12/31/2020

Real estate may be a small part of the portfolio, but it’s an important component for diversification (real estate is less correlated to the stock market) and generating income. Here are some U.S. office towers that the fund has an ownership stake in.

AddressOwnership Stake
601 Lexington Avenue, New York, NY 45.0%
475 Fifth Avenue, New York, NY49.9%
33 Arch Street, Boston, MA49.9%
100 First Street, San Francisco, CA44.0%

As of 12/31/2020

Overall, the fund has investments in 462 properties in the U.S. for a total value of $14.9 billion.

2. China Investment Corporation (CIC) – $1.2 Trillion (China)

The CIC is the largest of several Chinese SWFs, and was established to diversify the country’s foreign exchange holdings.

Compared to the Norwegian fund, the CIC invests in a greater variety of alternatives. This includes real estate, of course, but also private equity, private credit, and hedge funds.

Asset Class% of Total Assets
Public equities38%
Fixed income17%
Alternative assets43%
Cash2%

As of 12/31/2020

A primary focus of the CIC has been to increase its exposure to American infrastructure and manufacturing. By the end of 2020, 57% of the fund was invested in the United States.

“According to our estimate, the United States needs at least $8 trillion in infrastructure investments. There’s not sufficient capital from the U.S. government or private sector. It has to rely on foreign investments.”
– Ding Xuedong, Chairman, China Investment Corporation

This has drawn suspicion from U.S. regulators given the geopolitical tensions between the two countries. For further reading on the topic, consider this 2017 paper by the United States-China Economic and Security Review Commission.

Preparing for a Future Without Oil

Many of the countries associated with these SWFs are known for their robust fossil fuel industries. This includes Middle Eastern nations like Kuwait, Saudi Arabia, and the United Arab Emirates.

Oil has been an incredible source of wealth for these countries, but it’s unlikely to last forever. Some analysts believe that we could even see peak oil demand before 2030—though this doesn’t mean that oil will stop being an important resource.

Regardless, oil-producing countries are looking to hedge their reliance on fossil fuels. Their SWFs play an important role by taking oil revenue and investing it to generate returns and/or bolster other sectors of the economy.

An example of this is Saudi Arabia’s Public Investment Fund (PIF), which supports the country’s Vision 2030 framework by investing in clean energy and other promising sectors.

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Energy

Visualizing the Race for EV Dominance

Tesla was the first automaker to hit a $1 trillion market cap, but other electric car companies have plans to unseat the dominant EV maker.

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Electric Car Companies: Eating Tesla’s Dust

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email every week.

Tesla has reigned supreme among electric car companies, ever since it first released the Roadster back in 2008.

The California-based company headed by Elon Musk ended 2020 with 23% of the EV market and recently became the first automaker to hit a $1 trillion market capitalization. However, competitors like Volkswagen hope to accelerate their own EV efforts to unseat Musk’s company as the dominant manufacturer.

This graphic based on data from EV Volumes compares Tesla and other top carmakers’ positions today—from an all-electric perspective—and gives market share projections for 2025.

Auto Majors Playing Catch-up

According to Wood Mackenzie, Volkswagen will become the largest manufacturer of EVs before 2030. In order to achieve this, the world’s second-biggest carmaker is in talks with suppliers to secure direct access to the raw materials for batteries.

It also plans to build six battery factories in Europe by 2030 and to invest globally in charging stations. Still, according to EV Volumes projections, by 2025 the German company is forecasted to have only 12% of the market versus Tesla’s 21%.

CompanySales 2020 Sales 2025 (projections)Market cap (Oct '21, USD)
Tesla499,0002,800,000$1,023B
Volkswagen Group230,0001,500,000$170B
BYD136,000377,000$113B
SGMW (GM, Wulling Motors, SAIC)211,0001,100,000$89B
BMW48,000455,000$67B
Daimler (Mercedes-Benz)55,000483,000$103B
Renault-Nissan-Mitsubishi191,000606,000$39B
Geely40,000382,000$34B
Hyundai -Kia145,000750,000$112B
Stellantis82,000931,000$63B
Toyota 11,000382,000$240B
Ford 1,400282,000$63B

Other auto giants are following the same track towards EV adoption.

GM, the largest U.S. automaker, wants to stop selling fuel-burning cars by 2035. The company is making a big push into pure electric vehicles, with more than 30 new models expected by 2025.

Meanwhile, Ford expects 40% of its vehicles sold to be electric by the year 2030. The American carmaker has laid out plans to invest tens of billions of dollars in electric and autonomous vehicle efforts in the coming years.

Tesla’s Brand: A Secret Weapon

When it comes to electric car company brand awareness in the marketplace, Tesla still surpasses all others. In fact, more than one-fourth of shoppers who are considering an EV said Tesla is their top choice.

“They’ve done a wonderful job at presenting themselves as the innovative leader of electric vehicles and therefore, this is translating high awareness among consumers…”

—Rachelle Petusky, Research at Cox Automotive Mobility Group

Tesla recently surpassed Audi as the fourth-largest luxury car brand in the United States in 2020. It is now just behind BMW, Lexus, and Mercedes-Benz.

The Dominance of Electric Car Companies by 2040

BloombergNEF expects annual passenger EV sales to reach 13 million in 2025, 28 million in 2030, and 48 million by 2040, outselling gasoline and diesel models (42 million).

As the EV market continues to grow globally, competitors hope to take a run at Tesla’s lead—or at least stay in the race.

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