E-commerce growth is moderating compared to last year's surge, but it remains strong enough to reach a long-awaited milestone much sooner than anyone predicted: online retail sales will top $1 trillion this year.
A new report from FTI Consulting projects that e-commerce will hit the $1T mark in Q3 of 2022, three years earlier than the firm predicted it would before the pandemic hit.
FTI's new report says the e-commerce share of retail sale will hit 22.1% this year, up from 20.8% in 2021 and 15.2% in 2019. After four quarters of what FTI calls "hypergrowth" in 2021, the company says e-commerce sales—which have doubled in the past four years—still are brisk but are moderating.
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