Online sales in the US are forecast to reach $329 billion in 2010, up from $172 billion this year and accounting for 13% of total US retail, according to new research from Forrester Research.
Travel is predicted to remain the largest online retail category, rising to $119 billion in 2010, up from $63 billion in 2005, while general merchandise is expected to top $100 billion for the first time this year,
Forrester attributes this increase in revenue to consumers viewing online shopping differently, with retailers adapting their online strategy to suit, aiming to “enhance the online experience for existing consumers.”
Carrie Johnson, Forrester analyst explained: “Many businesses believe that they became too focussed on sales. Now they’re looking at their websites as a way to drive in-store traffic and increase their engagement with customers. This is a huge shift in philosophy as eCommerce enters a more sophisticated phase.”
The strong performance forecast for US ecommerce is echoed in the latest figures from the US Department of Commerce, showing that online retail sales hit $21.1 billion in Q2 2005, enjoying a growth of 3.5% quarter on quarter (see US Online Retail Reachs $21.1 Billion In Q2 2005).
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.
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).
Related Links
