Retail sales are expected to surge this holiday season, but e-commerce sales will continue to grow.
According to Deloitte’s annual holiday retail forecast, holiday retail sales could increase by 7-9% in 2021 compared to the same period in 2020, with sales for the November-January period It is expected to total $ 1.28- $ 1.3 trillion.
Meanwhile, e-commerce sales are projected to grow 11-15% year-on-year during the 2021-2022 holiday season. This could bring e-commerce holiday revenue from $ 210 billion to $ 218 billion this season.
This increase reflects continued growth. Last year’s holiday season sales were better than expected, up 5.8%.
“Strong personal consumption is expected in the next holiday season. As vaccination rates rise and consumers are more comfortable going out, spending on services such as restaurants and travel will increase, while on the market. Spending is expected to continue, said Daniel Buckman, US Economic Forecaster at Deloitte.
“A steady drop in savings to pre-pandemic levels will support consumer spending, retail sales will continue to rise this season. In addition, consumers will continue to buy online in all categories. E-commerce sales will continue to grow as they show targeted and steady movements. “
Rodside, Vice Chairman DeloitteHe added that shopping conditions in the Covid-19 pandemic will improve this season.
“While consumer concerns about health and safety have eased since last holiday season, pandemic-influenced shopping behavior continues to gain momentum. Responsive to changes in consumer behavior and online And retailer fulfillment, which offers convenient options for shopping and ordering in stores, is ready to grow for this holiday season and the new year, “says Sides.
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Holiday retail sales up 7-9%: Deloitte
Source link Holiday retail sales up 7-9%: Deloitte