Online Retail Market
Rising inflation and tighter budgets will probably have conflicting effects on the Online Retail Market. Since non-foods account for 45% of all online sales and are largely discretionary, any greater decline in non-essential demand is likely to hurt revenue. However, consumers continue to perceive online prices as being "cheaper" than those found in stores, which supports the continued growth of the Online Retail Market sector. Therefore, even during this time of economic uncertainty, the online channel will probably experience an increase in short- to medium-term engagement as consumers search for the best deals, aided by significant sales occasions like Black Friday or Amazon Prime Day.
