Yes, there was pull-forward growth in e-commerce. Using this from Benedict Evans in 2021 because it has numbers and a good graph:[1] > The traditional way to t

Yes, there was pull-forward growth in e-commerce. Using this from Benedict Evans in 2021 because it has numbers and a good graph:[1] > The traditional way to think about ecommerce penetration is to look at share of total retail sales, and then deduct things like car repair, gasoline and restaurants - to get to ‘addressable retail’. On that basis, US ecommerce was at 16% penetration at the end of 2019 and increased to 20% or so in 2020, adding 12-18 months of growth in a year. [1]: https://www.ben-evans.com/benedictevans/2021/5/29/boxes-trucks-and-bikes https://www.ben-evans.com/benedictevans/2021/5/29/boxes-truc...