Holiday E-Commerce Shipment Volume in the US to Increase by up to 32%
It’s that time of year again. Retailers are getting ready for the biggest holiday shopping season with Black Friday sales, Cyber Monday deals, and Christmas coming up.
So how will peak season look like for online retail this year? Using proprietary Machine Learning technology and by analyzing the millions of parcel data on our platform, Parcel Monitor is out with our very first holiday shopping e-commerce forecast for 2021. Will e-commerce growth surpass last year’s volume? Read on to find out!
E-commerce growth during peak season is expected to slow down in 2021
US holiday shopping season in 2020 saw a record-breaking growth of 63% in e-commerce volume compared to the other periods within the year. It is no surprise since the pandemic has driven US consumers to shop online more than ever before.
Based on our projections, we expect the 2021 online holiday sales period to have a slightly slower growth of 39% to 58% MoM and 23% to 32% YoY. Albeit being a smaller growth, this shows how the industry is still growing steadily after last year’s historic jump.
The slower e-commerce growth could also be due to shoppers starting to return to physical retail stores. Although US retail foot traffic is still around 20% to 30% lower than pre-pandemic levels as of August 2021, the numbers are on an upward trend. According to recent research by Forrester, brick-and-mortar stores will account for 72% of retail sales in the US by 2024.
E-Commerce shoppers will no longer wait for Black Friday and Cyber Monday
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