Online retail to grow 10% annually, hit $240 billion by 2014
March 9, 2010-- Home Textiles Today,
New York – U.S. online general merchandise retail sales will reach $248.7 billion in 2014, according to a new study released by Forrester Research.
The research also showed that, “Amid a global financial crisis, U.S. online retail (excluding auto, travel and prescription drugs) managed to grow 11% in 2009 to reach $155.2 billion.”
The forecast projects a 10% compound annual growth rate (CAGR) for U.S.-based e-commerce over the next five years.
Forrester said online retail in Europe will grow at a CAGR of 11% over the same time frame, and hit a volume of 114 billion Euros in 2014.
Patti Freeman Evans, vp, research director, Forrester Research, stressed that retailers must balance online and brick-and-mortar operations to develop “a multichannel strategy that addresses consumers’ expectations, focusing on their need to move between offline and online channels and their increasing mobile and social behaviors.”
Related Content By Author
Industry Related Content
Countdown to Heimtextil 2016