Ecommerce helped retail out of a sticky spot during the pandemic, and those habits formed during lockdowns will endure, as digital demands more attention than ever—37.5% of all retail sales this year will be ecommerce sales.
Alibaba’s quarterly earnings: The ecommerce giant posted strong growth in its retail and global businesses, even though we expect its share of China’s total ecommerce sales to dip slightly this year.
Alibaba’s quarterly earnings: The ecommerce giant posted strong growth in its retail and global businesses, even though we expect its share of China’s total ecommerce sales to dip slightly this year.
Following a strong Q1 fueled by government stimulus, we have increased our forecast for US retail ecommerce sales in 2021. US ecommerce sales are expected to grow 17.9% this year (higher than the 13.7% predicted in January 2021) to reach $933.30 billion. That pushes ecommerce’s share of total US retail sales to 15.3%, up from 14.0% last year. Ecommerce is now on track to surpass 20% of total retail by 2024.
US grocery delivery ecommerce sales will grow by 11.4% this year to reach $79.71 billion. This marks a deceleration from 2020, which saw a 41.7% increase in online sales of grocery products fulfilled via delivery.
The pandemic boosted retail ecommerce sales across the world and fueled double-digit gains in France and Germany in 2020. This year, both countries will see single-digit growth, as physical retail begins to recover.
Following a major shift to online retail in 2020, retail ecommerce sales will continue to grow by double digits through 2023 and make up an increasing share of total retail sales worldwide.