US retail sales to decline 10.5% in 2020: eMarketer

According to eMarketer’s latest forecast on U.S. retail sales, total retail sales — including auto and fuel sales — will drop by 10.5% to $4.9 trillion this year, but e-commerce is expected to increase by 18%.

On the brick-and-mortar side, retail sales will decline 14% to $4.2 trillion in 2020, and it could take up to five years for physical store sales to return to pre-pandemic levels. E-commerce sales are expected to reach $710 billion this year, but it will not alleviate the losses left behind by physical store closures, per the report.

Amazon is expected to lead the way in online sales, taking up 38% of market share, eMarketer said, with Walmart (5.8%), eBay (4.5%), Apple (3.5%) and Home Depot (1.9%) following behind.