Online retail sales in U.S. projected to exceed $1 trillion in 2022

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FTI Consulting’s Retail & Consumer Products practice forecasts that online retail sales will reach $1.07 trillion in 2022, up 11.7% from last year. The group had previously expected online retail sales to exceed $1 trillion in 2025. E-commerce accelerated during the pandemic, and FTI says online spending habits will continue. Still, the inflationary environment and other factors will slow growth going forward. “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,” said J.D. Wichser, head of FTI’s retail and consumer products practice, in a statement. “This will modulate over time, exacerbated by recent inflationary pressure, which is expected to slow total retail spending over the second half of 2022 and is quickly becoming the primary source of stress for consumers, who don’t know how long it will persist.” FTI Consulting expects online sales to reach $2 trillion by 2030. The Amplify Online Retail ETF IBUY, -4.65% has slumped 48.3% for the year to date.

This article was originally published by Marketwatch.com. Read the original article here.

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