Forrester: Home sales to grow on-line
Home & Textiles Today Staff -- Home Textiles Today, August 5, 2003
Cambridge, MA — E-commerce research firm Forrester Research Inc. today projected that nearly 5 million new U.S. households will shop online in each of the next five years, totaling 63 million online shopping households in the country in 2008.
Among the categories poised for the most significant growth in the coming five years are home goods, sporting goods and food & beverage, "which will outpace more traditional online categories like books and travel," according to Forrester. Home goods overall are projected to grow sales by 9 percent from $10.6 billion in 2003 to $38.8 billion in 2008. The linens/home décor sector will receive on the largest boosts, growing 13 percent, from $2.3 billion to $5.5 billion.
While traditional retail sales continue to struggle, online retail is expected to grow 19 percent in 2003 to $95.7 billion, Forrester said. Sales by 2008 are expected to reach $229.9 billion.
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