1. “That’s impossible”
2. “I can do it all myself”
3. “It’s not fair.”
4. “I’ll give it a try.”
5. “I already know that”
6. “Hey! Let me tell you what I’ve just heard about John…”
The bottom line:
COVID-19 Accelerated E-Commerce Growth ‘4 To 6 Years’
COVID-19 has massively accelerated the growth of e-commerce, according to an Adobe Digital Economy Index (DEI) report released today.
Adobe’s DEI is a global economic measure for the 21st century that more
quickly, comprehensively, and internationally measures the increasing buying power of digital consumers — with greater detail than any other data source available. You can download the full report here.
Highlighting that total online spending in May hit $82.5 billion, up 77% year-over-year, the report states: “It would’ve taken between 4 and 6 years to get to the levels that we saw in May if the growth continued at the same levels it was at for the past few years.”
Report highlights:
E-commerce: jumped $52 billion
Memorial Day sales: jumped 75% from $2 billion last year to $3.5 billion this year
Mobile’s share of e-commerce: grew from January but not much, up just 10%
BOPIS: buy online, pick up in-store grew 195% in May
Travel: flight bookings tripled from early April to late May
Higher rates of e-commerce and BOPIS (buy online, pick up in-store) may be the new abnormal, Adobe data indicates.
“We are seeing signs that online purchasing trends formed during the pandemic may see permanent adoption,” Taylor Schreiner, Director, Adobe Digital Insights, said in a statement. “While BOPIS was a niche delivery option pre-pandemic, it is fast becoming the delivery method of choice as consumers become more familiar with the ease, convenience and experience.”
Adobe’s DEI analyzes over one trillion online transactions across 100 million product SKUs, the company says.
What people are buying is changing too, perhaps returning more to relatively normal consumption patterns. Electronics and apparel purchases were up 11% and 12%, respectively: we’re working at home, but we haven’t bought new clothes in a while. Pricing is changing though: grocery prices were up 4% in May compared to 2019.
The data is telling us that COVID-19 has simply accelerated the trend of growth in the digital economy that has already been happening for many years. I share more in this short video below:
So if you’re serious about your business, you need to listen to what the data is telling you and be agile enough to act/respond accordingly.
Many people see the advantage of an online business but fail to get started because they simply don’t know where to start, or have a fear of failure. That’s exactly the position we were in which held us back for so long until we found the right education and support network to help us get started from scratch. If you’re ready to explore proven steps with a support network that you can take right now to take advantage of the growth in the digital economy, then Click Here to learn more.
Health, Wealth & Prosperity
It’s interesting to look at the root of where our words come from, it gives us an understanding of what was originally intended by the use of the word.
Take the word ‘Wealth’ for example. Now, in 2020 most people associate wealth with bank balance. However, that’s a corruption of the original intent, because it’s origins are linked to our ‘well-being’ and ‘health’ not money.
Whilst having more in your bank balance can of course lead to more health and well-being through wise choices and a life of integrity, we believe true wealth is not just about your bank balance. In fact, some of the richest people we’ve ever met never even had a bank account to their name.
Where is your treasure?
We also believe where your treasure is, there your heart will be also and that in turn will impact your thoughts, behaviours and well-being. So a question we all need to ask ourselves is; where and what is our treasure?
Gratitude is Gold
We’ve found an attitude of gratitude is a form of treasure that supports well-being. Yes, gratitude really is GOLD.
Studies show that greater health and happiness is measurable in those who practice gratitude over those who focus on negative aspects, even to the extent that there is a change in the brain’s neuroplasticity, just do a google search to see. But how do we develop an attitude of gratitude especially in times of crisis?
3 Steps to GOLD
So there are some simple steps we can all take to develop an attitude of gratitude that contributes to our wealth. Please watch the short video below to learn three steps you can take right now toward an attitude of gratitude that can help you in your business, family and personal life:
What Is Your Business About?
I find so many in business are unsatisfied with simply selling ‘stuff’.
Sure, we need to sell ‘stuff’ to keep the bread on the table, but what if there was more to business, more to life, than just selling ‘stuff’?
What if our business, what if our life, was about living out our values so as to make a difference in this world while at the same time providing for those we are responsible for?
One of the reasons we sign post people to the business start up programmes at SFM is because, having been through the system ourselves, and having met with the founders and lead team, we’ve seen it’s not about getting people to sell stuff.
Sure, there are some ready made resources for newbies starting out with to sell if they choose to, and as newbies we found that really helpful as we had nothing to sell, but it’s not about that.
The core of the SFM programme is about helping people understand their Vision, Mission, Purpose and Values, so they can become the best version of themselves in business and in life whether they choose to sell SFM stuff or not.
There’s very few programmes that offer that support.
Take SFM student, Rob Sewell as an example. I shared something of Rob’s transformation from Drug & Alcohol abuse to six figure business owner here:
In going through the SFM programme Rob now appreciates:
1. The impact of speaking truth & empowering others
2. The hardships he’s overcome and how they’ve helped him find his true purpose
3. How the experiences you go through forge your values
4. How he’s stepped into his purpose and launched his own coaching business
Rob now seeks to serve others by acting as a guiding light that shows people a space where they feel safe and understood.
Rob’s Vision, Mission, Purpose & Values
And while no income is guaranteed by any programme, after pinpointing his purpose with SFM, Rob’s income through his online business is such that it allows him the financial freedom to take each Friday off to volunteer with those who are struggling with drug and alcohol abuse, and given him the time freedom he so longed for with his family that his corporate job never gave him.
So, in the week ahead, perhaps you can reflect on what your business is about and whether it’s aligned to your true purpose?
If you’re interested in learning how to create a sustainable business based on your values, then click here to get started with our complimentary video training series delivered straight to your inbox.
Think Small To Succeed
You know, many people talk about ‘thinking big’ in business and in life to succeed, and I get that, but this week I want to encourage you to simply think small, in both your business and personal life.
In the video below I share two examples of people who are making a big difference in this world not by thinking big, but by thinking small, one of whom is a 16 year old girl who through small acts is making a huge difference…
Finally, as we all think about ways to generate wealth to make a difference in this world, I want to leave you with some of the last words Steve Jobs shared before he passed away at the age of 56 from pancreatic cancer:
“At this moment, lying on the bed, sick and remembering all my life, I realize that all my recognition and wealth that I have is meaningless in the face of imminent death.
You can hire someone to drive a car for you, make money for you – but you cannot hire someone to carry the disease for you.
One can find material things, but there is one thing that can not be found when it is lost – “LIFE”. So, love the people God sent you, one day he’ll need them back…”
May we all make a big difference in the week ahead by thinking small.
Kindness
She was a 5 year old refugee in the Netherlands from Iraq, yet a simple act of kindness shown to her caused her to take action over 25 years later.
Please click here to watch this message.
Having worked with refugees in the past, it reminded me of a similar personal experience when, thanks to the internet, and a desire and tenacity on the part of the other party, I was contacted by a very special individual who I never thought I would ever hear from again.
It happened one Christmas, and for me, that reconnection was the best Christmas gift I received.
There’s a lot of talk in our world about how to invest our finances, and that’s fine, but let’s not forget that by investing in each other with simple acts of kindness we can create a dividend for others and our ourselves that unlike money, can’t be devalued.
If like me, you grew up before the internet age, can see its amazing benefits and potential and would like to learn how to use this tool to create a profitable business aligned to your values which you’re genuinely passionate about, but don’t know where to start, then click here to claim our complimentary video series which explains more.
Stephen