U.S. E-Commerce Sales To Jump 18% In 2020, But Not Enough To Offset Retail’s Decline

U.S. e-commerce sales will jump 18% this year due to the impact of the coronavirus pandemic that forced more shoppers online, according to a new forecast released today by eMarketer. However, the surge in new online orders won’t make up for the overall hit that the U.S. retail sector will take this year, the firm noted. The analysts estimate that total U.S. retail sales, which also includes auto and fuel, will drop by 10.5% in 2020 to $4.894 trillion — a level not seen since 2016. This is also steeper than the 8.2% drop last seen in 2009, amid the recession. Read more at Tech Crunch.