Online Sales Surge as Brick and Mortar Retail Sales Plummet
In June 2020, total online sales in the U.S. reached $73.2 billion, up 76.2% compared to a year ago, so it’s not surprising that e-commerce is anticipated to grow by 18.0% in 2020, while traditional brick and mortar retail store sales are expected to continue their decline, by 14.0% for the year.
Since the pandemic began in February, retail store sales across the nation have plummeted. With the exception of online, health and grocery stores, virtually every other industry including electronics and appliance stores, sporting goods stores, furniture and home furnishing stores, clothing and clothing accessory stores, along with general merchandise stores have all suffered sever declines in sales, leading to the “retail apocalypse” of 2020.
The drop in retail sales are also causing bankruptcies and store closings, both temporary and permanent. For example, for the first quarter ending March 31, retails sales for the discount party supply store PartyCity have plummeted almost 20%, and the company said that it plans to close 21 of its stores in 2020. People aren’t shopping in stores like they used to.
Online sales will grow by 18.0% in 2020 while traditional brick and mortar retail store sales are expected to decline 14.0% for the year.
Whether you sell party supply products, clothing, or just about anything else, this is why you need a great domain name.
The COVID-19 pandemic won’t last forever, so there will always be reasons to celebrate again. With the fall Holiday season quickly approaching, not to mention the upcoming presidential election, now is the time to begin a new online store for selling everything from Halloween costumes and accessories to New Year’s Eve party supplies.
Buy the Domain name PartyHouse.com
If you already own or are planning to open an online party supply store, or even if you are just thinking about how to open an online ecommerce party supply store, you should definitely want to own a memorable and catchy domain name.
Social distancing recommendations will remain in effect for months to come, and regular store closings for sanitization will limit hours of operation at traditional shops. Many retail stores can survive by using creative measures like ordering online and curbside pickup, but it’s never been more important to have a strong internet presence with a memorable domain name. And selling your products online will forever be the obvious best way to guarantee your business’ survival, both during and long after the coronavirus pandemic.
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PartyHouse.com would be great domain name for a new social community app similar to Houseparty., or for any nightclub or lounge that promotes a fun and festive atmosphere. Not to mention the obvious – an online party favor and supply store.