E-Commerce Seen Rising, Buoyed by Online Investments, NRF Says

Online and non-store sales are expected to rise 18%-23% this year to up to $1.2 trillion, as many large and midsize retailers made significant investments in internet capabilities, the National Retail Federation forecast Wednesday. NRF Chief Economist Jack Kleinhenz said some portion of non-store sales might fall off as people decide they want to go back into stores. Pending broad administration of COVID-19 vaccines, retail growth is forecast to surge 6.5-8.2% to up to $4.4 trillion, the highest growth since 2004, said CEO Matthew Shay on a call. Shay put the vaccine front and center when asked how NRF is engaging with the Biden administration and Congress. “All of the focus is on the vaccine and vaccine distribution,” the trade association boss said of retailers.