E-commerce growth in the United States has slowed down after surging during the pandemic, showing meager, single-digit growth over the past four quarters. The proportion of online sales to total sales has stabilized at roughly 20.6% as of the second quarter of 2022. Shopify stated that its pandemic-era expansion was unsustainable as they let go 10% of its workforce. Even the mighty Amazon has been impacted as revenue fell by 4% in the second quarter of 2022 compared to the same period last year. But not every area of e-commerce is slowing down. In 2022, market share is still being gained in disparate niches within B2B and B2C. Whatnot, a live marketplace for selling collectibles, including sneakers, trading cards, and rare toys, raised a $260 million Series D in July. Fetch Rewards, a shopping rewards program, announced a $240 million equity and debt round, led by Hamilton Lane, this past April, at a valuation $1.5 billion greater than it had a year ago.
These E-Commerce Startups Sped Up Despite The Slowdown