Online retail sales in the US grew significantly in the second quarter of 2005, reaching $21.1 billion, enjoying a growth of 3.5% quarter on quarter, according to new figures from the US Department of Commerce.
According to the commerce department, online sales accounted for 2.2% of all retail sales in the US during the second quarter, with estimates from eMarketer for the full year predicting online retail sales to rise to 22.1%, reaching a total of $84.5 billion.
Commenting on the findings, Jeffrey Grau from eMarketer said: “Despite rising oil prices, online retail sales continue to exceed expectations. However, consumers may finally run out of spending money at the most important time for retailers, the holiday shopping season.”
Online retail sales in the US are predicted to rise by almost 25% this year, with revenues forecast to increase to $109.6 billion, up from $89 billion in 2004, according to a recent study by Shop.org and conducted by Forrester Research (see US Online Retail To Rise By 25% In 2005).
The projections are in line with analyst eMarketer’s latest online retail estimates, predicting US online retail sales to reach $84.5 billion this year, a 22.1% increase from last year (see US Online Shopping To Reach $84.5 Billion In 2005).
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