August 30, 2022 | less than a minute read

COVID Catapults E-commerce Sales to $1 Trillion

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Gino Bello

Senior Managing Director

Get in touch

Gino Bello

Senior Managing Director

COVID-19 isn’t entirely behind us, but everyday life has largely resumed a semblance of normalcy and most Americans are back to living as they did before the pandemic. That is not to say we will be resuming all our pre-pandemic lifestyles and habits.

COVID-19 forced many changes upon us, some of which we are eager to ditch (e.g. virtual Happy Hours) and others that will stick to some degree (e.g. teleworking). For large retailers, understanding what pandemic-induced changes in shopping habits will stick with their customers is critical to planning the path forward.

The views expressed herein are those of the author(s) and not necessarily the views of FTI Consulting, Inc., its management, its subsidiaries, its affiliates, or its other professionals.

FTI Consulting, Inc., including its subsidiaries and affiliates, is a consulting firm and is not a certified public accounting firm or a law firm.

U.S. e-commerce retail sales enjoyed four quarters of hypergrowth from 2Q20 through 1Q21, during which time quarterly online sales growth (YoY) ranged from 45% to 53% compared to a consistent low- to mid-teen growth rate in the years preceding the pandemic — or the equivalent of nearly three years of sales gains in those four quarters, while online market share approached 21%.