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Ecommerce

Ecommerce in US to hit more than USD 450 bln in 2017

Thursday 10 August 2017 | 09:20 AM CET

US online sales are expected to see more than USD 459 billion in 2017, meaning a 14% growth from 2016 and accounting for 12.9% of the USD 3.56 trillion in retail sales as a whole.

These findings come from Forrester Research, which projects that total retail sales (online and offline) to grow by USD 129 billion over 2016. By 2022, online will account for 17% of all retail sales, according to the same research company.

In June 2017, 54% of US consumers were confident or very confident in the chances for a strong economy – up from 46.3% 2016. According to The Forrester 2016 Customer Experience Index, digital retailers delivered 17 positive experiences for every negative one, compared with just 13 among traditional retailers.

Ecommerce continues its developing trend by digitizing the businesses. For example, digital teams across all sectors average now 112 employees, more than an average of 94 in 2016. Retailers see even more employees on average, 125. Technology (28%) and marketing (14%) make up the lion’s share of roles on digital business teams.

The ecommerce market is dominated by clothing, consumer electronics and computers sales, which mean USD 150 billion — nearly one-third of all online sales. By 2022, Forrester projects that housewares will replace computers as the third-largest product category, with almost half of the spending for this product category occurring online.

Digital music streaming sales accounts for USD 2.5 billion in 2016 — approximately one-third of all music sales in the US. Digital video sales were USD 10 billion in 2016, and subscription streaming accounted for roughly USD 6 billion, with another USD 4 billion through video on demand.

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