That figure will grow to more than USD 500 billion by 2020, according to Forrester Research, by Sucharita Mulpuru, mediapost.com reports.
US online retail sales topped USD 100 billion only in 2006 but, by 2020, Forrester expects online retail sales will exceed USD 500 billion. Amazon is estimated to gain USD 23 billion more in US ecommerce sales in 2015 than in 2014 (including its third-party marketplace). That accounts for 60% of the total growth in US online sales in 2015.
Already, more than USD 1.5 trillion of total US retail sales are web-impacted. The National Retail Foundation (NRF) forecasts that “retail industry sales will grow 3.1% in 2016, or higher than the 10-year average of 2.7%”.
Online sales grew 15.1% in Q1 and accounted for 11.1% of retail sales when factoring out items not normally bought online. Web sales totaled USD 86.3 billion for the period ended March 31, according to non-adjusted estimates released by the US Department of Commerce.
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