Online holiday sales worldwide 2022

Between November 1 and December 31, 2022, online shoppers globally are expected to spend an estimated 209.7 billion U.S. dollars on holiday shopping. Cyber Monday alone is forecast to generate approximately 11.2 billion dollars in online sales.

The effect of economic uncertainty on holiday shopping

In 2022, the twin evils of inflation and economic stagnation threaten to affect consumer demand during this year's festivities. In a survey conducted in August 2022, nearly a third of consumers worldwide stated that galloping inflation was their  prime concern this holiday season. Other issues like uncertainty about the global economy and lack of savings also came up as areas of concern. Since many people wait for the holidays to buy big-ticket items, these categories are forecast to witness the highest rates of e-commerce discounts, with e-retailers anticipating grim consumer sentiment to affect this year's peak season sales. Categories like computers and electronics could see double-digit discount rates that online shoppers can benefit from.

Impact of inflation on e-commerce

During the holiday season and beyond, the global macroeconomic outlook for 2022 is spelling bad news for e-commerce businesses across the globe. In the United States, that rapidly grew and thrived during the pandemic got hit by a wave of e-commerce layoffs that dealt a blow to the industry. One way consumers are dealing with rising inflation and economic uncertainty is by resorting to recommerce: In a May 2022 survey, around 93 percent of U.S. shoppers reported that inflation impacted their decision to buy and sell secondhand products online in the past twelve months. The recommerce market in the U.S. is set to reach nearly 180 billion U.S. dollars in 2022.