Ecommerce sales in 2021 are expected to build on the gains from 2020, far exceeding pre-pandemic estimates

Posted On // Leave a Comment
In 2020, the coronavirus pandemic accelerated ecommerce sales growth significantly. Growth won't be as high in 2021, but total sales will far exceed our pre-pandemic estimates. We estimate that US retail ecommerce sales grew 33.6% in 2020, reaching $799.18 billion.

As the pandemic subsides, in-store shopping will rebound, and a share of consumer spending will revert away from retail and toward services like travel and live entertainment. However, sales growth this year will still build upon the massive upward revision from 2020, causing total ecommerce sales for 2021 to be more than $147 billion greater than we expected prior to the pandemic. We forecast ecommerce sales will grow 13.7% this year, reaching $908.73 billion.

As ecommerce sales made significant gains, non-ecommerce retail contracted for the first time since the Great Recession, falling 0.2% in 2020. This translates to about...

0 comments:

Post a Comment