Morgan Stanley expects COVID-19 to pull forward the US e-commerce penetration rate by at least two years.
It said more people are shopping online because they're sheltered home, spending less on experiences like travel, while the government stimulus check is boosting purchases.E-commerce penetration in the US is expected to speed up by a couple years due to the massive shift to online shopping during the COVID-19 pandemic, according to Morgan Stanley.
As a result, Morgan Stanley estimates e-commerce to account for over 23% of US retail this year, up by more than 5 percentage points from the previous year. In fact, e-commerce captured only 12% of the $170 billion in available dollars from lost retail sales during the month of April, yet still managed to grow 58% year-over-year, or 4 times faster than the year before, according to Morgan Stanley estimates.
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