Sep 13, 2022 - Economy
Holiday e-commerce sales forecast to grow 13.5% — report
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This holiday season, don’t look for e-commerce growth to slow down,
Driving the news: Economists at Deloitte forecast growth of 13.5% in e-commerce sales this holiday season, pushing sales up to $262 billion, according to a new report out this morning.
- That's an even bigger increase than last year when e-commerce grew 8.4% (2020 was the watershed year when online sales jumped a whopping 50%).
Why it matters: Online shopping was turbocharged by the pandemic, and it's one trend that's not going away.
- "Holiday shopping in the last six or seven years has largely gone from being an in-store experience to an online experience," Rod Sides, Deloitte Insights Leader, tells Axios.
The bottom line: The expected e-commerce growth is in stark contrast to overall holiday sales, which Deloitte estimates will grow by a smaller 4%–6% — less than the current annual inflation rate (8.5%).
