Retail sales in 2021 are expected to increase to a record-breaking $4.26 trillion, up 8.1% year-over-year. This data was reported by Customer Growth Partners’ 2021 annual forecast. After an unexpected year-over-year growth of 7.1% in retail sales for 2020, predictions are high for the future.
“In light of COVID impacts and lingering economic uncertainty, the extraordinary year-over-year increase in holiday sales has barely let up in 2021, demonstrating the optimism and resilience of everyday Americans, nationwide,” said Craig Johnson, President at Customer Growth Partners.
The 8.1% increase will mark the fastest pace of growth for retail sales in this century. The resilience of America’s shoppers has shown through in the past year and will continue to strengthen as we move to a post-pandemic environment.