Online Sales Hits Record 11.1% Of Retail Sales 

tech-companies-paying-the-most-100659043-primary.idge_According to Forrester Research, by Sucharita Mulpuru, US online retail is expected to reach to reach $373 billion in 2016. That figure will grow to more than $500 billion by 2020. The study explores the drivers of online retail sales growth in the US and the challenges the industry faces in the years to come.US online retail sales topped $100 billion only in 2006, but by 2020, Forrester expects online retail sales will have grown five-fold, exceeding half a trillion dollars. Amazon is estimated to captured $23 billion more in US eCommerce sales in 2015 than in 2014 (including its third-party marketplace). That  accounts for approximately 60% of the total growth in US online sales in 2015, says the report.American online consumers stand to benefit from shopping online with foreign merchants because goods are less expensive, says the report. By the same token, American online merchants dependent on foreign shoppers will experience a slowdown because US goods are more expensive abroad.US eCommerce, 2015-2020 Forecast: US eCommerce, 2015 To 2020 201520162017201820192020Retail spend (US$ bil)$338.1$372.5$409.8$448.5$488.9$530.6Online buyers (millions)185.8189.7193.7197.8202.0206.2Source: Forrester Research Online Retail Forecast, 2015 to 2020 (US), Q4 2015rretIn 2016, Forrester expects online retail sales to total $373 billion, and are expected to grow thanks to:Better programs by web merchants. Merchants surveyed in the most recent version of the survey said that two of their top priorities in 2015 were online marketing and merchandising. Retailers noted that they were focusing on longstanding elements of retail success like customer relationship management (CRM), personalization, loyalty programs, and improved site content to drive more engagement with existing shoppers

Source: Online Sales Hits Record 11.1% Of Retail Sales 05/25/2016

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