Online shopping sees healthy growth through 2014
It seems that online shopping is no longer going to be something people only use when it comes to the holiday shopping season if current projections are anything to go by.
According to CNET, a new report from Forrester Research shows that by 2014, online sales are expected to hit $248.7 billion domestically, or approximately 8 percent of all retail sales in the United States. This will be reached by a compounded growth of 10 percent for each of the next five years. Meanwhile, in Western Europe, online sales are expected to hit 114 billion euros ($155.7 billion) by 2014 based on a growth rate of 11 percent per year.
The least shocking bit of information is that apparel, computers and consumer electronics will continue to be the three dominant categories. Combined, those three markets make up 40 percent of the current online sales, and that is not expected to change any time soon.
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March 9th, 2010
I read this item of news too and it was very enlightening. I saw that Forrester noted that many online retailers are trending towards increasing their social networking presences as well, and one such example is the Wishlist Facebook shopping appplication from Sortprice.com. I’m guessing it’s only a matter of time before Sortprice’s competitors follow suit.
March 11th, 2010
Nice summary….. I completely agree with Paul that online shopping is gaining popularity. You can research, compare prices and save on your favorite brands by simply shopping online. I’ve been using online shopping tools such Onewayshopping.com to compare prices and deals with better results.