TradeDepot adds $10 million to add financial services to its supply chain services for African SMBs

Nigeria’s e-commerce startup TradeDepot, which connects international brands to small businesses in Africa, has raised $10 million in a new round of funding to expand its business into financial services and credit offerings for retailers.

First launched in 2016, TradeDepot has built up a network of 40,000 small businesses in Nigeria and connects them to local distributors of global consumer brands like Nestlé, Unilever, GB Foods and Danone, according to a statement.

The initial business model managed to attract a $3 million investment led by Partech back in 2018. And now, as the firm invests from its largest African fund, Partech returned to co-lead TradeDepot’s latest round with the International Finance Corp., Women Entrepreneurs Finance Initiative and MSA Capital.

TradeDepot’s business depends on making a range of household supplies like milk, soap, and detergent more accessible and affordable for the street-side vendors and small shops that provide goods and services for hundreds of communities in cities like Lagos — where the company is headquartered.

Using the company’s mobile apps on Android or Whatsapp, USSD short code messaging or a toll-free phone number, retailers can place orders and have goods and services delivered through TradeDepot’s fleet of vans and tricycles. They can make payments, order stock, and manage inventory online or through the app as well.

For consumer brands, they have a central hub through which to distribute directly to vendors on the continent, along with data that can help them manage their relationship with these small vendors.

Image Credit: TradeDepot

Africa’s offline retail market is estimated at $1 trillion, and this new investment allows us to capture an even greater segment of that market,” said Onyekachi Izukanne, in a statement. “We will continue to use data to drive efficiencies and provide an easier stock acquisition service for our [over] 40,000 retailers, driving down costs for them by negotiating even better deals with our global manufacturing partners, whilst simultaneously providing a better, faster route to market for our suppliers.”

The company said that a new store comes online to use its services every three minutes and that the company receives an order from retailers every four seconds, on average.

Now, with the new capital, TradeDepot will expand into a suite of financial services and lending products for its retailers. Many of the company’s customers lack a credit rating, but TradeDepot has alternative ways to score credit based on the data it has from its existing trading relationships.

“The founders’ vision to build a digital platform that improves the unit economics of serving the mass market is one we feel privileged to support,” said Wale Ayeni, the head of Africa Venture Capital investment at the IFC.

That support disproportionately goes to helping women entrepreneurs, according to the company. Women account for over 75% of the retailers on the company’s platform. Now, with the help of its new investor We-Fi, TradeDepot will look to offer mentorship opportunities and link these business owners to global markets.

“Women play a pivotal role in driving economies across Africa, but lack of access to capital, limited market linkages, cultural norms and other challenges often prevent them from achieving the success they want,” saiid Hanh Nam Nguyen, who represents the We-Fi initiative with the IFC. “We-Fi financing will incentivize TradeDepot to build stronger women-led small and medium enterprises (SME) retailer and distributor networks, which will support them to become drivers of economic growth in their communities.”  

TradeDepot adds $10 million to add financial services to its supply chain services for African SMBs

Nigeria’s e-commerce startup TradeDepot, which connects international brands to small businesses in Africa, has raised $10 million in a new round of funding to expand its business into financial services and credit offerings for retailers.

First launched in 2016, TradeDepot has built up a network of 40,000 small businesses in Nigeria and connects them to local distributors of global consumer brands like Nestlé, Unilever, GB Foods and Danone, according to a statement.

The initial business model managed to attract a $3 million investment led by Partech back in 2018. And now, as the firm invests from its largest African fund, Partech returned to co-lead TradeDepot’s latest round with the International Finance Corp., Women Entrepreneurs Finance Initiative and MSA Capital.

TradeDepot’s business depends on making a range of household supplies like milk, soap, and detergent more accessible and affordable for the street-side vendors and small shops that provide goods and services for hundreds of communities in cities like Lagos — where the company is headquartered.

Using the company’s mobile apps on Android or Whatsapp, USSD short code messaging or a toll-free phone number, retailers can place orders and have goods and services delivered through TradeDepot’s fleet of vans and tricycles. They can make payments, order stock, and manage inventory online or through the app as well.

For consumer brands, they have a central hub through which to distribute directly to vendors on the continent, along with data that can help them manage their relationship with these small vendors.

Image Credit: TradeDepot

Africa’s offline retail market is estimated at $1 trillion, and this new investment allows us to capture an even greater segment of that market,” said Onyekachi Izukanne, in a statement. “We will continue to use data to drive efficiencies and provide an easier stock acquisition service for our [over] 40,000 retailers, driving down costs for them by negotiating even better deals with our global manufacturing partners, whilst simultaneously providing a better, faster route to market for our suppliers.”

The company said that a new store comes online to use its services every three minutes and that the company receives an order from retailers every four seconds, on average.

Now, with the new capital, TradeDepot will expand into a suite of financial services and lending products for its retailers. Many of the company’s customers lack a credit rating, but TradeDepot has alternative ways to score credit based on the data it has from its existing trading relationships.

“The founders’ vision to build a digital platform that improves the unit economics of serving the mass market is one we feel privileged to support,” said Wale Ayeni, the head of Africa Venture Capital investment at the IFC.

That support disproportionately goes to helping women entrepreneurs, according to the company. Women account for over 75% of the retailers on the company’s platform. Now, with the help of its new investor We-Fi, TradeDepot will look to offer mentorship opportunities and link these business owners to global markets.

“Women play a pivotal role in driving economies across Africa, but lack of access to capital, limited market linkages, cultural norms and other challenges often prevent them from achieving the success they want,” saiid Hanh Nam Nguyen, who represents the We-Fi initiative with the IFC. “We-Fi financing will incentivize TradeDepot to build stronger women-led small and medium enterprises (SME) retailer and distributor networks, which will support them to become drivers of economic growth in their communities.”  

Amazon US sellers will have to display their name and address starting Sept. 1, 2020

Amazon on Wednesday informed its U.S. sellers they will soon have to display their business name and address on their Amazon.com seller profile page. For individual sellers, this will include the individual’s name and address. A similar system is already in place across Amazon’s stores in Europe, Japan and Mexico, due to local laws. Amazon says it’s making the change to ensure there’s a more consistent baseline of seller information across its platform, so online shoppers can make informed buying decisions.

The change, of course, is not just about transparency.

Amazon’s U.S. marketplace is its oldest and largest, with 461,000 active U.S. sellers out of its 2.2 million worldwide actives. In total, there are 8.6 million registered sellers worldwide and Amazon adds around a million more per year, according to Marketplace Pulse data.

Amazon’s marketplace also accounts for around half the retailer’s sales. But as it has grown, it has been afflicted by a variety of issues and fraud, including problems with counterfeit goods.

Though Amazon has long been accused of avoiding these issues, it’s more recently pledged to spend billions to address the problem. Amazon even inserted itself into legal battles with fraudulent sellers and counterfeiters over the past couple of years, including those with designers and accessory makers, as well as others participating in the fake reviews economy.

Last year, Amazon also launched a set of tools for brands and manufacturers under its “Project Zero” initiative, which work to proactively combat counterfeiting.

And just this April, Amazon announced it was piloting a new system aimed at verifying the identity of third-party sellers over video-conferencing — a shift from its in-person verifications that had to stop due to the coronavirus outbreak. Through this system, Amazon checks that the individual seller’s ID matches the person and the documents they shared with their application, among other things.

Now Amazon is telling its U.S. sellers their business name and address will need to be on their profile by September 1, 2020.

The change will help businesses fighting fraud or taking legal action against sellers over counterfeit goods. Consumers will also have an address in case the product has caused harm and they need to contact the seller or even initiative legal action of their own.

Once the new system goes live in the U.S., the seller’s storefront on Amazon.com will display an expanded set of information about their business.

A photo from Marketplace Pulse shows how this may look, with a comparison of a U.K. seller page with its current U.S. counterpart:

Image Credits: Marketplace Pulse

In a statement, Amazon says the change is about consistently, avoiding the topic of online fraud.

“Over the years, we have developed many ways for sellers to share more about their business, including through features like the seller profile pages, ‘Store’ pages for brand owners, and Handmade ‘Maker Profile’ pages,” an Amazon spokesperson said. “These features help customers learn more about sellers’ businesses and their products. Beginning September 1, we will also display sellers’ business name and address on their Amazon.com seller profile page to ensure there is a consistent baseline of seller information to help customers make informed shopping decisions,” they said.

Google brings free product listings to its main Google Search results

Earlier this year, Google made a significant change to its Shopping search tab in the U.S. to allow the service to primarily feature free product listings selected by Google’s algorithms, instead of paid ads. Building on that change, Google is today introducing a shift to free product listings in the main Google Search results page in the U.S. Before, it would only showcase sponsored links in its “product knowledge panel.”

This panel appears when a Google user searches for a product that has matching listings on e-commerce website. But until now, those links were paid ads. Google says, starting this summer, these panels will instead feature free listings.

This change will roll out first in the U.S. on mobile, followed later by the desktop.

Shopping ads aren’t going away, however. These ads will appear separately at the top of the page, where they’re marked like Google’s other ad units.

Since its shift to free listings in April of this year, Google says it’s seen an average 70% increase in clicks and 130% increase in impressions across both the free listings and ads on the Shopping tab in the U.S. These metrics were based on an experiment looking at the clicks and impressions after the free listings were introduced, compared with a control group. The control group was a certain percentage of Google traffic that had not been moved to the new, free experience.

Image Credits: Google

 

Google has positioned its shift to free listings as a way to aid businesses struggling to connect with shoppers due to the impacts of the coronavirus pandemic. But the reality is that this change would have had to arrive at some point — pandemic or not — because of Amazon’s threat to Google’s business.

Amazon over the years has been steadily eating away at Google’s key business: search ad revenue. In a report published last fall, before the pandemic hit, analyst firm eMarketer said Google’s share of search ad market revenue would slip from 73% in 2019 to 71% by 2021, as more internet users started their searches for products directly on Amazon.

Now the coronavirus is pushing more consumers to shop online in even greater numbers, much to Amazon’s advantage. The online retailer reported the pandemic helped drive a 26% increase in its first-quarter 2020 revenue, for example. Meanwhile, a new eMarketer forecast estimates that Google ad revenues will drop for the first time this year, falling 5.3% to $39.58 billion due to pandemic impacts on ad spend — particularly the pullback in travel advertiser spending.

Google needed to change its Search service to return more than just paid listings to better compete. Paid listings alone wouldn’t always feature the best match for the user’s search query nor would they show as complete a selection — a problem Amazon’s vast online superstore doesn’t have. But Google’s shift to free listings also incentivizes advertisers to pay for increased visibility. Now, advertisers will need a way to stand out against a larger and more diverse selection of products.

“For many merchants, connecting with customers in a digital environment is still relatively new territory or a smaller part of their business,” notes Google’s, Bill Ready, President of Commerce. “However, consumer preference for online shopping has increased dramatically, and it’s crucial that we help people find all the best options available and help merchants more easily connect with consumers online.”

What grocery startup Weee! learned from China’s tech giants

When Larry Liu moved to the U.S. in 2003, one of the first challenges he experienced was the lack of Chinese ingredients available in local groceries. A native of Hubei, a Chinese province famous for its freshwater fish and lotus-inspired dishes, Liu got by with a limited supply found at local Asian groceries in the Bay Area.

His yearning for home food eventually prompted him to quit a stable financial management role at microcontroller company Atmel and go on to launch Weee!, an online market selling Asian produce, snacks and skincare products.

Like other players in grocery e-commerce, the five-year-old startup has seen exponential growth since the coronavirus outbreak as millions are confined to cooking and eating at home. Nearly a quarter of Americans purchased groceries online to avoid offline shopping during the pandemic, according to Statista data. Online grocery giants Instacart and Walmart Grocery boomed, both hitting record downloads.

In a Zoom call with TechCrunch, Liu, who’s now chief executive of Weee!, said that COVID-19 played a “very important role” in his company’s recent growth, and paved its way to profitability.

“It happened a lot faster than we expected, but we were growing rapidly with even more ambitious plans for expansion prior to COVID-19,” he said. “People are buying more because restaurants are closed. Many are first-time users of grocery delivery.”

The startup’s revenue is up 700% year-over-year and is estimated to generate an annual revenue in the lower hundreds of millions of dollars.

Online grocery, the WeChat way

The best investment every digital brand can make during the COVID-19 pandemic

Intuitively, stores that sell online should be making a killing during the COVID-19 pandemic. After all, everyone is stuck at home — and understandably more willing to shop online instead of at a traditional retailer to avoid putting themselves and others at medical risk. But the truth is, most smaller online stores have seen better days.

The primary challenge is that smaller shops often don’t have the logistics networks that companies like Amazon do. Consequently, they’re seeing substantially delayed delivery timelines, especially if they ship internationally. Customers obviously aren’t thrilled about that reality. And in many cases, they’re requesting refunds at a staggering rate.

I saw this play out firsthand in April. At that point, my stores were down 20% or in some cases even 30% in revenue. Needless to say, my team was freaking out. But there’s one thing we did that helped us increase our revenue over 200% since the pandemic, decrease refund requests and even strengthen our existing customer relationships.

We implemented a 24-hour live chat in all of our stores. Here’s why it worked for us and why every digital brand should be doing it too.

Avoid the common ‘unreachability’ frustration

When I started my first online store in 2006, challenges that bogged my team down often meant that my team’s first priority became resolving those challenges so that we could serve our customers faster. But admittedly, when these challenges came up, it became more difficult to balance communicating with our customers and resolving the issues that prevented us from fulfilling their orders quickly.

Amazon expands use of SNAP benefits for online grocery to 11 more states

Amazon customers in nearly a dozen more U.S. states are now able to use their SNAP (Supplemental Nutrition Assistance Program) benefits to purchase groceries online, the retailer announced on Thursday. The news represents a significant expansion of a United States Department of Agriculture (USDA) pilot program introduced in 2019 that aimed to open up online grocery shopping to those on public assistance. This program is even more critical now, as in-store shopping puts consumers at risk of contracting the deadly novel coronavirus. 

To date, participating retailers in the USDA pilot program have included Walmart, Amazon, ShopRite, and other smaller chains.

Amazon confirmed to TechCrunch that the 11 new states that now support using SNAP for online grocery, include those that were added starting last week through today, Thursday, May 28.

The initial expansion of the pilot added New Mexico, Vermont, West Virginia, and Wisconsin, which all became active last week. On Tuesday of this week, Colorado, Maryland, Minnesota, and New Jersey rolled out. And today, Massachusetts, Michigan, and Virginia were added as well.

With these new additions, Amazon customers on public assistance can shop online for groceries across a total of 25 U.S. states plus Washington D.C. At checkout, they can pay for groceries using their SNAP EBT.

Including the new states, Amazon now offers the use of SNAP EBT for online grocery in Alabama, Arizona, California, Colorado, Florida, Idaho, Iowa, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Jersey, New Mexico, New York, North Carolina, Oregon, Texas, Vermont, Virginia, Washington, West Virginia, and Wisconsin.

However, Amazon is not the only retailer offering online grocery for SNAP EBT customers in these 25 states.

According to the USDA’s website, SNAP users can now order their groceries online through either Amazon or Walmart in these markets.

The site also indicates that Amazon is the only retailer supporting the District of Columbia at present. In addition, ShopRite supports the use of SNAP for online groceries in Maryland, New Jersey, and New York. And Wright’s Markets is participating in the pilot program in Alabama.

The USDA’s website indicates several more states are now in the planning phase so they can add online purchasing as a shopping option soon. These include Connecticut, Georgia, Illinois, Indiana, Nevada, Ohio, Oklahoma, Pennsylvania, Rhode Island, Tennessee, and Wyoming.

As part of Amazon’s participation in the USDA program, it not only enabled the use of SNAP EBT as a payment method, it also made its Amazon Fresh service available to SNAP recipients in states where Fresh is available without requiring a Prime membership. And it offered free shipping on both Amazon Fresh and Amazon Pantry orders.

At launch, Amazon had said the USDA pilot program would “dramatically increase access to food for more remote customers.”

However, in the coronavirus era, access to online grocery can be a life-saving measure for some.

The pandemic has complicated access to food for those on SNAP benefits, and for high-risk individuals on SNAP in particular. These consumers now have to risk getting COVID-19 every time they out for groceries themselves. And as more workers become unemployed due to the economic impacts from the pandemic, more people are joining public assistance programs like SNAP. 

In light of the pandemic, the USDA said it would fast-track any state that wanted to join the pilot. California, Arizona, Florida, Idaho, Kentucky, Missouri, Texas, West Virginia, D.C., North Carolina, and Vermont, were just approved in April, for example. In May, the USDA approved Minnesota, Colorado, Nevada, Wisconsin, Rhode Island, New Mexico, and Wyoming.

In under 6 weeks, the USDA has expanded access to the program to a total of 36 states plus D.C., it say, though many are not yet live. When they launch, however, online purchasing for groceries will be available to more than 90% of SNAP participants, the USDA has noted.

 

DHL acquires stake in Link Commerce developed by MallforAfrica

DHL has acquired a minority stake in Link Commerce, a turn-key e-commerce company that grew out of MallforAfrica.com — a Nigerian digital-retail startup.

Link Commerce offers a white-label solution for doing digital-sales in emerging markets.

Retailers can plug into the company’s e-commerce platform to create a web-based storefront that manages payments and logistics.

With the investment one of the world’s largest delivery services looks to build a broader client-base globally using a business built in Africa.

DHL is trying to get their hands more into global e-commerce…across the world and they figured our platform was a good way to do it,” Link Commerce CEO Chris Folayan told TechCrunch.

Folayan originally founded MallforAfrica, which paved the way for Link Commerce. DHL’s investment in the company —  the amount of which is undisclosed — has roots in collaboration with Folayan’s original startup.

MallforAfrica began a partnership with DHL in 2015 and launched DHL Africa eShop in 2019. The sales platform is powered by Link Commerce and has brought more than 200 U.S. and U.K. sellers — from Neiman Marcus to Carters — online to African consumers in 34 countries.

DHL AFRICA ESHOP MAP

Image Credits: DHL

Similar to MallforAfrica’s model, Africa eShop allows users to purchase goods directly from the websites of any of the app’s partners.

For the global retailers selling on Africa eShop, the hurdles that held back distribution on the continent — payments, currency risk, logistics — are handled by the underlying Link Commerce operating platform.

“That’s what our service does. It takes care of that whole ecosystem to enable global e-commerce to exist, no matter what country you’re in,” Folayan told TechCrunch in 2019.

Link Commerce was built out of Folayan’s startup MallforAfrica.com, which he founded in 2011 after studying and working in the U.S.

A common practice among Africans — that of giving lists of goods to family members abroad to buy and bring home — highlighted a gap between supply and demand for the continent’s consumer markets.

With MallforAfrica Folayan aimed to close that gap by allowing people on the continent to purchase goods from global retailers directly online.

MallforAfrica and Link Commerce founder Chris Folayan, Image Credits: MallforAfrica

The e-commerce site went on to onboard over 250 global retailers and now employs 30 people at order processing facilities in Oregon and the UK.

MallforAfrica’s Africa eShop expansion put it on a footing to compete with Pan African e-commerce leader Jumia — which went public on the NYSE in 2019 — and China’s Alibaba, anticipated to enter online retail on the continent at some point.

The Link Commerce, DHL deal won’t change that, but Folayan has shifted the hirearchy of his businesses to make Link Commerce the lead operation and Africa one market of many.

Image Credits: Link Commerce

“We changed the structure. So now Link Commerce is above MallforAfrica and MallforAfrica is now powered by Link Commerce,” Folayan explained on a recent call.

“Right now the focus is on Africa…but we’re taking this global,” he added.

Folayan and DHL plan to extend the platform to emerging markets around the world, where other companies may look to grow by wrapping an online store, payments, and logistics solution around their core business.

That could include any large entity that wants to launch an international e-commerce site, according to Folayan.

“Link Commerce is focused on banks, mobile companies, shipping companies and partnering with them to expand globally,” he said.

That’s a big leap from Folayan’s original venture, MallforAfrica.com

What began as a startup to sell brand name jeans and sneakers online in Africa, has pivoted to a global e-commerce fulfillment business partially owned by logistics giant DHL.

Amazon calls on Congress to create anti-price gouging law

Amazon has received a fair amount of criticism for perceived inaction against seller price gouging during the COVID-19 pandemic. While the retail giant has made efforts to rein in the opportunist activity (pulling some half a million offending listings), critics have pointed to the company’s slow response, along with continued problems with a number of high-demand products sold through affiliates.

Today, however, the company’s VP of Public Policy, Brian Huseman, penned an open letter to Congress, asking lawmakers to make price gouging illegal during a national crisis. The executive notes that the policy has been an effective tool in states like Tennessee where such laws already exist.

“Our collaborative efforts to hold price gougers accountable have clarified one thing: to keep pace with bad actors and protect consumers, we need a strong federal anti-price gouging law,” Huseman writes. “As of now, price gouging is prohibited during times of crisis in about two-thirds of the United States. The disparate standards among states present a significant challenge for retailers working to assist law enforcement, protect consumers, and comply with the law.”

Jeff Bezos also addressed the issue in his annual shareholder letter last month, writing, “To accelerate our response to price-gouging incidents, we created a special communication channel for state attorneys general to quickly and easily escalate consumer complaints to us.”

The company has certainly taken some efforts to curb the act. As it notes, nearly 4,000 seller accounts have been suspended in the U.S. store for policy violations. But a cursory search for in-demand products yields plenty of prohibitively expensive listings for once-ubiquitous household products. Home cleaning supplies in particular have seen a massive spike in pricing.

We asked Thinknum to chart the price of Clorox-branded items from late last year through now and the graph speaks for itself:

As retail store shelves have gone bare, Amazon has become an essential lifeline for many — a fact that plenty of predatory sellers have been more than happy to capitalize on. Beyond essential supplies, prices have gone through the roof for a number of products currently in short demand, such as the Nintendo Switch, which has been squeezed through a combination of increased interest and supply chain issues.

The company rightfully notes that enforcing such policies as a matter of the law will be a kind of juggling act. “Put simply, we want to avoid the $400 bottle of Purell for sale right after an emergency goes into effect, while not punishing unavoidable price increases that emergencies can cause, especially as supply chains are disrupted,” Huseman writes. “Furthermore, any prohibitions should apply to all levels of the supply chain so that retailers and resellers are not forced to bear price gouging increases by manufacturers and suppliers.”

US e-commerce sales jump 49% in April, led by online grocery

Online retailers are seeing Black Friday-like sales due to the impact of the COVID-19 pandemic on their business. According to new data from Adobe’s Digital Economy Index, U.S. e-commerce jumped 49% in April, compared to the baseline period in early March before shelter-in-place restrictions went into effect. Online grocery helped drive the increase in sales, with a 110% boost in daily sales between March and April. Meanwhile, electronic sales were up 58% and book sales have doubled.

The data comes from Adobe’s index of the digital economy, which analyzes more than one trillion online transactions across 100 million different SKUs. The company works with 80 of the top 100 U.S. online retailers to gather its data.

The numbers indicate that consumers are willing to spend on products that will help them manage the COVID-19 crisis. This includes, in large part, online grocery pickup and delivery.

Companies, including Amazon, Walmart and Instacart, have hired more workers to aid with the increased consumer demand across their retail operations. Instacart even became profitable for the first time, The Information recently reported, due to the surge triggered by the coronavirus outbreak. The company sold around $700 million worth of groceries during the first two weeks of April, up 450% over its December 2019 sales, the report said.

Meanwhile, the electronics category of online sales saw its first inflation in years. According to Adobe, online electronics prices have been experiencing deflation at a steady rate since 2014, but COVID-19 has led to electronics prices flattening.

Computer prices even crept up in April, due to rising demand. Plus, sales of audio mixers, microphones, microphone cables and other audio equipment jumped 459% in April as would-be podcasters and various creatives set up their home studios.

The overall electronics category also appears to now be on an upward trajectory. This may not end anytime soon, Adobe’s report cautions, as COVID-19’s impact on the electronics supply chain may continue for many months to come.

Meanwhile, consumers turned online to shop apparel in April, with a 34% increase in sales as prices fell. With no need to dress for work — either due to unemployment or new work-from-home policies — April saw the largest monthly drop in apparel prices in more than five years. While April typically sees average price growth of -2.9%, this April the growth was -12%. Prices fell even further as retailers looked to rally sales by clearing inventory earlier.

When consumers did shop, they not surprisingly shifted their purchases toward comfort items. April saw increases in things like pajamas (up 143%) and decreases in business apparel like pants and jackets (down 13% and 33%, respectively).

In addition to the growth in specific categories, April also saw sizable growth in “buy online, pickup in store” orders. From April 1 through April 20, these surged 208% year-over-year as people attempted to practice social distancing while shopping.

Adobe’s data comes alongside other reports that indicate a huge jump in online shopping in April.

For example, Bazaarvoice’s data, based on its network of over 6,200 brand and retail sites, indicated that April was a much larger month for e-commerce than March. As consumers finished stocking up on essentials (like toilet paper, perhaps!) in March, they turned to online shopping for toys, games, entertainment, sporting goods and pet supplies in April in greater numbers.

Adobe’s report also found that e-commerce purchases of wine, beer, spirits and related accessories were up 74% in April, as consumers plowed through the COVID-19 crisis.

According to Bazaarvoice, April 2020 grew even faster than March across every indicator it tracked — including page views, order count, review submission and question submission.

March ended with a 25% year-over-year increase in page views, the report said, while April ended with an 88% increase. And March ended with a 21% year-over-year increase in order count, while April ended with a 96% increase. In addition, while browsing behavior like page views had outpaced purchasing behavior in March, that trend reversed in April.

The overall impact of the shift to online could be rising prices, Adobe warned.

“As online is absorbing the offline retail economy, some inflation is being observed for the first time in years, especially in categories that have consistently experienced online deflation, such as electronics,” said Taylor Schreiner, director, Adobe Digital Insights. “Americans are used to things getting cheaper online, but that trend may be ending, and online commerce may never be the same. It appears that COVID-19 has accelerated that process.”