See full analysis Learn more Shopping [New] Holiday retail sales were expected to grow approximately 3.6% over the previous year. Pre-pandemic, the average penetration of online grocery shopping was expected to reach a high single digit in the following three to five years. In 2020 with the pandemic, and the large shift to online shopping, the in-store numbers will not be as high. The results from the first 11.11 shopping window in 2020 indicate a solid rebound of consumer spending in China, demonstrating the importance of the opportunity it presents for international brands and small businesses. Online retail sales are expected to reach new heights in 2020, as the global coronavirus pandemic has forced many homebound consumers to shop online. While the luxury goods industry has suffered a huge blow due to the coronavirus pandemic, wide-moat Cie Financiere Richemont, a global luxury goods conglomerate whose brands include Cariter and Mont Blanc, might still benefit from 2020's Christmas shopping. Online food orders in the U.S. have increased from 2% of grocery sales before the pandemic to a predicted 10% by the end of the year. Amazon's experiments with automating in-person shopping at a small number of grocery stores in Seattle could help retailers elsewhere create touchless in-store experiences consumers are demanding. With the online retail market making up 16.1% or about $4.2 trillion of the overall retail market and expected to reach 22% by 2023, brands know they need to create a standout digital shopping experience for their customers. The global demand for biometric technology in the payments industry is robust and will accelerate during the busy end of year shopping season and as business returns to a new normal in 2021. American online holiday spending alone could hit $189 billion in part because COVID-19 will keep many people out of stores. Sales from nonessential retailers - such as department stores - are expected to plummet by 60% in 2020; meanwhile, e-commerce is projected to grow by nearly 20%, particularly in categories such as groceries. More Americans plan to stay home for holiday celebrations in 2020, and they have shifted their grocery and gift shopping to online channels. Merchants can lean on ecommerce - which will account for a record-high near-19% of 2020's $1.01 trillion worth of total holiday retail sales - to help encourage holiday spending among consumers wary of in-store shopping. Over the next five years, online grocery shopping is projected to take up 21.5% of all grocery sales in the U.S. Black Friday, Cyber Monday: Black Friday is projected to generate $10 billion in online sales, a 39% YoY increase; Cyber Monday will remain the biggest online shopping day of the year with $12.7 billion, a 35% jump YoY. / USA Consumers will spend $56 billion before US Thanksgiving, up 37% from last year, and that one-third of all consumers will complete their shopping by Black Friday. Online shopping in Mexico comprised just 3.0% of total sales in 2017 but it's projected to more than double by 2022, reaching $14 billion. While the festive season will be challenging for shops and consumers, Mintel expects in-store and online retail sales across November and December combined to hit £81.7 billion. Despite the dramatic shift to online shopping, thousands of Irish small businesses risk losing sales by failing to prepare for Strong Customer Authentication requirements. Americans plan to buy gifts for fewer people in 2020 and do their holiday shopping earlier than previous years. Last updated: 10 January 2021 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No