Dive Summary:
- According to projections from Forrester, U.S. online retail sales will reach $370 billion by 2017, up from $231 billion in 2013, and European sales will increase from €128 billion ($165.6 billion) to €191 billion ($247.1 billion) in the same time period.
- Forrester also notes that online retail--boosted by smart phones and tablets, as well as the growth of web investment by traditional retailers--will continue outpacing the growth of physical retail stores.
- Additionally, much of the growth in online retail is coming from existing web shoppers becoming more comfortable spending their cash digitally, and on more "high-touch, high-consideration" goods.
From the article:
... Despite years of chewing the digital cud — not to mention a global financial downturn — there’s no sign of the U.S. or European ecommerce cash-cows ailing, according to two new forecasts from Forrester. In the U.S. Forrester is projecting online retail sales will reach $370 billion by 2017, up from $231 billion in 2013 — a 10% compound annual growth rate (CAGR) over the next five years. ...
