Bracing for an Unknown Economy

Bracing for an Unknown Economy. Online shopping jumped 77% year over year just months into the pandemic, accelerating the innovation and adoption of digital commerce by half a decade. But now the economic outlook forces ecommerce businesses to brace for a sluggish economy plagued by inflation concerns. Total retail sales have increased, but the climb is expected to be slow. Companies are worried about the risk of inflation and its impact on growth, leading to cost reduction efforts and plans to increase product prices. Given the uncertainty, companies are preparing for a potential recession in the coming year.