The Bank of America survey respondents signal their intention to continue spending more online next year following a rise in e-commerce spending this year. In July, FTI Consulting released a report predicting that American consumers will drive online retail sales to $1.14 trillion this year, a 10% jump from 2022.
Online shopping has already seen increases during the holiday season. During the recent Thanksgiving shopping weekend, consumers pushed online holiday sales to $38 billion, up 7.8% from the previous year, according to an Adobe Analytics report. On Cyber Monday, customers spent $12.4 billion, up 9.6% from 2022, Adobe found.
