Every year ushers in new changes, challenges and complexities to brands’ marketplace strategies.
E-commerce still represents a small portion of retail, accounting for 16.2% of total retail sales in the third quarter, according to the Department of Commerce. E-commerce climbed 7.4% in the third quarter, but it’s outpacing broader retail growth, which only grew 2.1% in the same period, as more shopping moves online. Online shopping is expected to total $1.2 trillion in 2024, up from $1.1 trillion in 2023, according to FTI Consulting.
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