The "pandemic economy" has great potential! US online retail sales for the 2021 holiday season will reach $218 billion!

According to Deloitte's annual holiday retail forecast, total holiday retail sales in the United States in 2021 will reach $1.28 to $1.3 trillion, an increase of 7% to 9%. E-commerce sales are expected to reach $210 billion to $218 billion, an increase of 11% to 15%.

Daniel Bachman, Deloitte's U.S. economic forecaster, said that as vaccination rates increase, consumers are more willing to go out of their homes. It can be clearly seen that spending on services including catering and tourism is increasing, and the savings rate is steadily declining to pre-epidemic levels.

The report pointed out that in future retail sales and disposable personal income, a strong growth is expected after entering this quarter. In addition, the continued uncertainty of the new crown epidemic will continue to drive more online commodity spending.

"While consumers' concerns about health and safety have eased since the last holiday season, their shopping behavior is still affected by the pandemic," said Rod Sides, vice chairman of Deloitte. "If retailers can continue to innovate based on changes in consumer behavior and optimize the online and in-store shopping experience, their sales will grow dramatically this holiday shopping season."

The Deloitte forecast follows a report from Mastercard's SpendingPulse, which predicted holiday sales (Nov. 1 to Dec. 24) would grow 7.4%.

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