After eMarketer’s February 2020 forecast projected modest growth of 2.8% to $5.621 trillion in total US retail sales, the coronavirus pandemic took the U.S. economy by storm, causing store closures, stay-at-home orders and declined demand for nonessential goods. As a result, the research firm now expect there to be a 10.5% decline in total U.S. retail sales this year, including a 14% drop in brick-and-mortar sales.
The news isn’t as dire for all retail channels, however. Ecommerce is poised to grow 18% following a 14.9% gain in 2019, further evidence of the digital shift, said eMarketer.
