Although U.S. online holiday sales exceeded the $200 billion mark for the first time in 2021, growth slowed during the peak season compared to 2020.
According to Digital Commerce 360 U.S. shoppers spent an estimated $211.41 billion online during the 2021 holiday season, up 10.0% from $192.19 billion the previous year. Despite the slowdown, it’s notable that retailers were able to maintain and even grow their huge e-commerce gains early in the pandemic.
Nearly $1 of every $4 spent by U.S. consumers on retail purchases came from online orders during the 2021 holiday season. While digital’s share of total retail sales did not return to pre-pandemic levels from November to December, it did decline.
In 2021 , e-commerce accounted for 24.1% of all holiday spending, down from 24.9% during the 2020 season. But 2021's online penetration rate is still higher than the 19.2% registered in 2019.
Here are the reasons why the US online market is showing this phenomenon:
1. Online sales early in the fourth quarter cut into holiday spending Retail sales data for October backed up the trend, supporting the survey results. According to data from e Analytics , U.S. e-commerce sales increased 8% in October compared to the same month in 2020.
2. Black Friday online sales volume drops compared to 2020 In 2021 , holiday shopping during the final peak period of the retail calendar (the five days from Thanksgiving to Cyber Monday) fell just short of the record online sales sparked by the pandemic in 2020. According to data from e Analytics , during the 2021 promotion period, digital revenue fell 1.4% year-on-year from $34.36 billion in the same period last year.
3. Inventory scarcity, price increases and weaker discounts weigh on consumption A common challenge for many retailers is getting enough goods into their warehouses, a problem that has hampered e-commerce growth. Raw material shortages have made manufacturing goods problematic. Containers are scarce, forcing some large retail chains to lease their own specialized cargo ships to better control their supply chains during the chaos. Huge bottlenecks have nearly paralyzed ports.
4. Other e-commerce sales data suggest more modest growth Digital Commerce 360 The forecast for 10.0% growth in digital revenue in 2021 is consistent with data released by payment companies and technology providers that collect transaction data, both of which show slow growth in online holiday sales. E-commerce |
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