WHILE HOLIDAY RETAIL SALES are expected to cool compared to the heights of 2023, e-commerce holiday shopping will see an uptick, according to projections from Deloitte, an audit, consulting, tax and advisory services firm.
Deloitte predicts holiday sales will increase between 2.3% and 3.3% in 2024, compared to 4.3% growth in 2023, totaling $1.58 trillion to $1.59 trillion. The forecast shows likely growth of e-commerce between 7% and 9%.
Make a List, Check It Twice
Whether you offer e-commerce, fully rely on brick-and-mortar customers or a combination of both, here are some ways to prepare for the holiday shopping season.
- Secure and enhance your website so when online shoppers do visit, they have an easy and safe e-commerce experience.
- Get active on social media to share online and in-store deals and discounts and drive traffic to both.
- Connect with wholesalers and vendors to assure the holiday items your customers will want to buy will be in stock.
- Prep employees for the increase of customers with additional customer service and product knowledge training.
“Our forecast indicates that e-commerce sales will remain strong as consumers continue to take advantage of online deals to maximize their spending. While this holiday season reflects a return to trend levels of growth, retailers who focus on building loyalty and trust with consumers could be well positioned for success.” —Michael Jeschke, Deloitte Consulting LLP
Source: 2024 Annual Holiday Retail Forecast, Deloitte
