Bricks and Mortar retailers are bracing for a softer holiday season this year, entirely due to the Covid 19 pandemic. The high street’s loss, however, will be the online seller’s gain, as there will be a major shift to ecommerce across the holidays.
It’s thought US consumers will spend upwards of $190 billion this year on ecommerce purchases, which represents a 35.8% year on year uplift and an incremental $50 billion in sales against 2019.
In stark contrast, In-store holiday sales will decline by 4.7% to $822.79 million. Overall, online gains will entirely make up for these losses, resulting in retail growth of 0.9% for total holiday season sales, and $1.013 trillion in revenue.
What’s more, it’s expected that the trend is irreversible into 2021 and 2022, as customers experience and revel in the online shopping experience – perhaps setting aside quality and security concerns as they’re forced to try our new technologies.
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