US Ecommerce Growth Jumps More than 30%, accelerating online shopping shift by nearly 2 Years
The pandemic has accelerated ecommerce growth in the US with online sales reaching a level not previously expected until 2022.
US ecommerce sales will reach $794.50 billion this year, up 32.4% year-over-year. That’s a much higher growth rate than the 18.0% predicted in our Q2 forecast, as consumers continue to avoid stores and opt for online shopping amid the pandemic.
“We’ve seen ecommerce accelerate in ways that didn’t seem possible last spring, given the extent of the economic crisis,” said Andrew Lipsman, eMarketer principal analyst at Insider Intelligence. “While much of the shift has been led by essential categories like grocery, there has been surprising strength in discretionary categories like consumer electronics and home furnishings that benefited from pandemic-driven lifestyle needs.”
Ecommerce sales will reach 14.4% of all US retail spending this year and 19.2% by 2024. When excluding gas and auto sales (categories sold almost exclusively offline), ecommerce penetration jumps to 20.6%.
“There will be some lasting impacts from the pandemic that will fundamentally change how people shop,” said Cindy Liu, eMarketer senior forecasting analyst at Insider Intelligence.
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