Insights
- US holiday retail sales in 2023 are predicted to reach pre-pandemic levels at $1.317 trillion, according to Insider Intelligence.
- E-commerce is set to increase by 11.3 per cent YoY, outpacing brick-and-mortar stores.
- The country's m-commerce are expected to account for nearly 50 per cent of e-commerce sales, with a 14.8 per cent YoY growth.
US holiday retail sales for 2023 are expected to return to pre-pandemic growth levels, according to Insider Intelligence’s latest June forecast. The forecast indicates that e-commerce will once again experience double-digit growth, with a year-over-year (YoY) increase of 11.3 per cent.
The forecast estimates that US holiday retail sales will total $1.317 trillion this year. While brick-and-mortar stores continue to be a dominant force, accounting for more than 80 per cent of holiday retail sales, it's the e-commerce sector that is growing at a faster pace.
One of the key takeaways from the forecast is the significant growth of e-commerce, driven in part by the rising adoption of m-commerce (mobile commerce). For the 2023 holiday season, m-commerce is expected to account for nearly 50 per cent of total US holiday e-commerce sales, as per the forecast.
US holiday retail sales in 2023 are predicted to reach pre-pandemic levels at $1.317 trillion, according to Insider Intelligence.
E-commerce is set to increase by 11.3 per cent YoY, outpacing brick-and-mortar stores.
The country's m-commerce are expected to account for nearly 50 per cent of e-commerce sales, with a 14.8 per cent YoY growth.
Notably, m-commerce stands as the fastest-growing channel this holiday season, witnessing a 14.8 per cent YoY growth rate.
Fibre2Fashion News Desk (DP)
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