Online holiday sales should grow by almost $20 billion in 2021, according to Forrester, Eric Haggstrom, an analyst for the market research firm, stated in a blog post.
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The gain will come despite consumers returning to stores and spending more on travel and restaurants. It comes on top of a $40 billion online sales increase in a 2020 holiday season that was challenging for retailers coping with the COVID-19 pandemic.
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For the 2021 season, online holiday retail sales should reach just under $200 billion, Haggstrom noted. Despite facing tough comparisons to 2020 holiday sales, online retail will grow 10% this year, as mass vaccinations have helped in-store sales but haven’t hurt online sales, he added.
Supply issues are impacting the whole retail market, but major operators have prepared. Although they will have to cope with out-of-stocks and higher shipping times, Haggstrom asserted that consumers are prepared to spend more money online this year.
