The eCommerce Market Share Keeps Climbing -- How Are You Handling the Pressure?
Earlier in the year, many pundits talked about a steep decline in retail eComm activity following the massive growth during the pandemic years. But that isn't what's happening now.
The headline: Online retail sales growth may have slowed compared to its monster increase in 2020 — but the e-commerce share of retail continues to inch up.
The big picture: FTI Consulting projects that annual online sales will cross the $1 trillion mark this year, according to a report published this week.
- The firm estimates that the dollar amount of online sales will increase 11.7% over 2021. That would follow an 18% increase last year, and a growth of 43% in 2020.
- The figures imply that the online share of total retail sales would move to 22%. That’s 2 percentage points higher than 2020 — and about 7 points higher than the pre-pandemic world of 2019.
The bottom line: On the whole, behavior changes spurred by the pandemic aren’t reversing.
What to do now: If you're not set up for continued eCommerce pressure, don't get left behind. Mountain Leverage offers a unique portfolio and decades of warehouse optimization expertise to help you identify key opportunities within your operation to make improvements, saving you time and money along the way.
Reach out to our team to start the conversation.