FTI Consulting Projects U.S. Online Retail Sales to Reach $865 Billion in 2021
Pandemic Converts More Consumers to Online Shoppers
Shoppers Say They Plan to Spend More This Year During Amazon Prime Day
The projected 2021 online retail sales total is a 13.5% increase over 2020, according to FTI Consulting’s 2021
“As Americans begin to emerge from COVID-related restrictions, many have been converted to online shoppers as their confidence in online shopping increased the past year, particularly in the grocery category,” said
Consumers appear ready to meet pent-up demand after months of social distancing. In a survey of 1,000
Most survey respondents said they intend to spend more on apparel and accessories than any other product category, a predictable spending shift after a year of stay-at-home living.
The survey of Prime Day shoppers showed that more consumers will continue to shop online than they did prior to COVID-19, with 41% saying they will shop online as often as they did during the pandemic, while another 25% said they will shop online less than in 2020 but more than in 2019.
Just 16% of respondents said they missed in-store shopping and will revert to their pre-pandemic shopping habits, while another 18% still preferred in-store shopping for certain product categories.
“There will be no return to pre-pandemic shopping habits for a large majority of consumers, and this will tend to benefit large online and omnichannel sellers, most of whom are general merchandise retailers,” said J.D. Wichser, Leader of the Retail & Consumer Products practice at
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Source: FTI Consulting, Inc.
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