Sales in the online sector are set for big growth in the US over the course of 2020, boosted by Covid-19 pandemic.
That’s according to a new report by eMarketer, “US Ecommerce 2020,” which forecasts a 10.5 per cent decline in total US retail sales this year, with a 14 per cent drop in brick-and-mortar sales. E-commerce is poised to grow 18 per cent (following a 14.9 per cent gain in 2019), which reflects a notable increase in both the number of digital buyers and the average spending per buyer.
“These gains reflect the pandemic’s impact on new buyers joining the online retail space, including 12.2 per cent growth for those ages 65 and older,” the report stated.
Amid the pandemic economy, consumers have gravitated toward trusted and reliable retailers, the report noted. As a result, it expects the top 10 e-commerce retail businesses to grow at above-average rates (21.8 per cent). Amazon will gain US e-commerce market share this year, while Walmart’s accelerating e-commerce growth will take it to the No. 2 position for the first time.
