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15 nov 2021

US Spotlight: Digital Transformation and Disruption


In our latest guest blog on thematic investing, MSCI and Professor Costas Andriopoulos share their views on digital transformation and disruption, with a focus on the US market. More than a year on from their earlier insights on Disruptive Technology and the Digital Economy in a post-Covid world, they shine a light on how crises like the pandemic can be catalysts for change and innovation.

There can be little doubt that 2020, and now 2021, have been difficult for most industries globally. The last 18 months have delivered unprecedented disruption to both humans and businesses. Yet crises such as COVID-19 can also be catalysts for positive change and innovation. National and state-level restrictions and lockdowns forced companies in the U.S. to create new lines of business and customer capabilities by leveraging digital transformation and innovation in ways that otherwise might have taken years to plan and implement.  

After the initial shock of the pandemic, organizations in the U.S. quickly reset to respond to changing consumer needs. A recent survey from MIT Technology Review Insights found that by August 2020, more than eight out of 10 U.S. organizations had made significant investments in their digital infrastructure, enabling them to shift to remote work and online business transactions.1

Disruptive technologies like 3D printing and robotics also played a key role in supporting COVID-19 response and recovery efforts. In the U.S., 3D printing became a critical tool to help the health-care industry overcome shortages in personal protective equipment (PPE), while airports and hospitals used robots to spray disinfecting chemicals on their facilities.2

In this Thematic Insight, we will look at some interesting digital economy and disruptive technologies, largely from a U.S. perspective, and consider the novel ways they have been adopted to serve employees and customers.

Digital Economy in focus


E-commerce sales in the U.S. are projected to have jumped above pre-pandemic estimates. eMarketer forecasts U.S. growth in retail e-commerce sales of 13.7% in 2021, reaching USD 908.73 billion.³ This suggests that e-commerce now claims a larger slice of an enlarged pie, with e-commerce sales to account for 15.5% of the USD 5.856 trillion in total retail sales this year.4 Elsewhere, Adobe has forecast that U.S. e-commerce spending will reach USD 1 trillion in 2022.5

Amazon remains the top U.S. e-commerce retailer, estimating that its sales account for 38.7% of all e-commerce sales in the U.S.6 Walmart, despite seeing its U.S. business e-commerce grow 79%, remains No. 2 in the rankings and far behind Amazon.7 Across product categories, toys, furniture and bedding, video games and auto parts were the most purchases made by U.S. consumers in March 2021 as the pandemic stretched into its second year.8

Read the full insight by MSCI 

MSCI insight digital transformation

MSCI would like to thank Costas Andriopoulos, who is a Professor of Innovation and Entrepreneurship at Bayes Business School, for useful discussions and insightful analysis of this megatrend, which have greatly facilitated the preparation of this document. 

His research focuses on organisational ambidexterity: how companies can excel at both incremental and radical innovation.

Watch Costas’ webcast on Disruptive Technology 

Watch Costas’ webcast on the Digital Economy

The view from Lyxor

Our world is changing. Technological breakthroughs, economic evolution and the climate emergency are reshaping reality for billions of people. Will your portfolio keep up? 

Each of our Thematic ETFs combines human insight, natural language processing and data analysis techniques in a unique way to identify the companies that matter most, and ensure your portfolio stays one step ahead. As a pioneering ETF provider with a history of innovation, we’ve gone the extra mile to build some truly state-of-the art funds for a new state of mind. 

We’re incredibly excited about this range and hope you can join us in preparing portfolios for change.

Find out how you can stay one step ahead with Lyxor’s Thematic ETFs

Relevant ETFs

1 “Digital acceleration in the time of coronavirus: North America.” MIT Technology Review Insights, Dec. 15, 2020.
2 Is 3D Printing the Future of Manufacturing? The American Society of Mechanical Engineers, Apr 1, 2021, Meet Violet, the Robot That Can Kill the COVID-19 Virus, TIME, April 24, 2020

3 Droesch, Blake. “How will the pandemic affect US ecommerce sales in 2021?” eMarketer, May 17, 2021.
4 Ibid.
5 Verdon, Joan. “Global E-Commerce Sales To Hit $4.2 Trillion As Online Surge Continues, Adobe Reports.” Forbes, April 27, 2021.
6 Droesch, Blake. “Here are the top 10 US ecommerce companies for 2021—plus 6 key takeaways from our latest forecast.” eMarketer, March 24, 2021.
7 Wahba, Phil. “Despite its best efforts, Walmart’s e-commerce is still a fraction of Amazon’s.” Fortune, March 29, 2021.
8 Verdon, Joan. “Global E-Commerce Sales To Hit $4.2 Trillion As Online Surge Continues, Adobe Reports.

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Conflicts of interest

This research contains the views, opinions, and recommendations of Lyxor International Asset Management (“LIAM”) Cross Asset and ETF research analysts and/or strategists. To the extent that this research contains trade ideas based on macro views of economic market conditions or relative value, it may differ from the fundamental Cross Asset and ETF Research opinions and recommendations contained in Cross Asset and ETF Research sector or company research reports and from the views and opinions of other departments of LIAM and its affiliates. Lyxor Cross Asset and ETF research analysts and/or strategists routinely consult with LIAM sales and portfolio management personnel regarding market information including, but not limited to, pricing, spread levels and trading activity of ETFs tracking equity, fixed income, and commodity indices. Trading desks may trade, or have traded, as principal on the basis of the research analyst(s) views and reports. Lyxor has mandatory research policies and procedures that are reasonably designed to (i) ensure that purported facts in research reports are based on reliable information and (ii) to prevent improper selective or tiered dissemination of research reports. In addition, research analysts receive compensation based, in part, on the quality and accuracy of their analysis, client feedback, competitive factors and LIAM’s total revenues including revenues from management fees and investment advisory fees and distribution fees.

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