For many retailers, the holiday season represents the single most important two months for sales. In fact, November and December are expected to deliver close to 20% of total 2020 US retail sales.
Our just-published 2020 US online holiday retail sales forecast outlines some of the details, including:
- 2020 online holiday sales in the US will reach $173 billion. COVID-19 limited in-store traffic, which led to many Americans making more purchases online, and retailers should expect an accelerated version of this trend during the remainder of 2020. US online holiday sales will grow by an average of 24.4% over 2020.
- Large players will continue to win. Throughout the year, large essential players such as Amazon, Target, and Walmart reaped the benefits of remaining open during the pandemic. As the holiday season is now underway, we expect these large essential players to continue to pull in the most revenue due to their assortment of offerings, large audience, and omnichannel presence.
To find out more about the 2020 online holiday retail sales forecast, read the full report here.