The pandemic is accelerating ecommerce growth in the U.S. to the point where online sales reached a level not previously expected until 2022. According to eMarketer, U.S. 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% predicted in the firm’s Q2 forecast, as consumers continue to avoid stores and opt for online shopping amid the pandemic.
eMarketer expects the top 10 etailers will grow market share by 5% this year.
“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.”