New research from FTI Consulting predicts that ecommerce sales will hit $1 trillion by Q3 this year, twice the number of 2018.
Ecommerce sales were boosted by the pandemic and what the FTI described as “four quarters of hyper-growth”
However, but now, shoppers are more anxious about high inflation and a potential recession that could upend their finances, the report said.
“The rocket-like growth of online retail during COVID-19 certainly will moderate. Online sales in the past two years were driven by necessity — shopping from home due to stay-at-home living and work conditions — as well as more discretionary income due to government stimulus, a speedy jobs recovery and increased savings,” FTI Consulting retail and consumer products lead J.D. Wichser said.
