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• As Covid-19 related restrictions lift worldwide, consumers spend lesser time on their screens and in online shopping
With two years into the pandemic, trends such as digital advertising growth and e-commerce sales have started to slow down.
Digital advertising, which made huge gains in the last two years, has begun fading due to reasons including high inflation, supply-chain shortages, the Russia-Ukraine war and gradual return to normalcy.
The major digital advertising giants including Amazon.com Inc (NASDAQ: AMZN), Meta Platforms Inc (NASDAQ: FB) and Alphabet Inc (NASDAQ: GOOG) reported slow growth in ad revenue in the last quarter, compared to the year-ago period.
As Covid-19 related restrictions lift worldwide, consumers spend lesser time on their screens and in online shopping.
E-commerce slowdown
As consumers head back to brick-and-mortar stores instead of shopping online, e-commerce retailers including Etsy Inc (NASDAQ: ETSY) , Shopify Inc (NYSE: SHOP), Wayfair Inc (NYSE: W) and Poshmark Inc (NASDAQ: POSH) bear the brunt of this shift.
The online furniture retailer Wayfair stocks fell 26%, touching a fresh 52-week low, after it reported losses in the quarter.
Similarly, Shopify stock fell nearly 15% as it forecasts lower revenue growth in the first half of the year.
Picture Credits: Reuters
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