This holiday season, E-commerce sales in the US are expected to exceed 2019 levels by 50%. Sales at brick and mortar retailers will also increase over the same period, but by just 9%, estimates a new report from Deloitte released this morning.
why it matters: The pandemic has put businesses and consumers online – habits that have long stuck.
By numbers: Deloitte says retail sales in the US are expected to reach about $1.3 trillion in the November to January period.
- The firm estimates that e-commerce sales in particular will reach between $210 billion and $218 billion.
- For context, total holiday sales last year rose 5.8% from 2019 to $1.2 trillion — e-commerce in particular grew 34.8% to $189 billion.
strong sales forecast Deloitte says that comes amid “increased retail sales already,” even though disposable income is expected to remain flat.
- national retail association Raise your annual outlook Consumer spending has been “more resilient” than expected after it was noticed earlier this year.
What are they saying: during Goldman Sachs presentation last weekWalmart CEO Doug McMillan also said he expects consumer demand to remain the same or increase this year.
- “If I had to take over or step down, I’d take over a little bit,” McMillan said. “I think customers, families want to celebrate Christmas. They want a Thanksgiving, and if this situation with the virus enables it or maybe doesn’t, we’re going to see strong demand for the rest of this year.” are.”