Sep 13, 2022 - Economy

Holiday e-commerce sales forecast to grow 13.5% — report

Holiday e-commerce sales
Data: U.S. Census Bureau, Haver Analytics, Deloitte; Chart: Simran Parwani/Axios

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%).

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