If you’ve been thinking about the right time to launch your eCommerce business, this may be your time to make history as the growth in online retail sales is expected to outpace the brick-and-mortar businesses over the next five years.
Last year, U.S. ecommerce racked up sales of over $230 billion, and is projected to increase by 13% to $262 billion in 2013, according to the market research firm, Forrester, as noted on the Mashable website.
So far, the growth accounts for almost 8% of total retail sales, and is expected to hit $370 billion by 2017; if so, it could well represent a “full tenth of all retail sales in the U.S.”
Isolating the two factors attributed to such growth shows reveals the ever-increasing time consumers spend online, particularly with the use of mobile devices, smartphones and tablets to search and tap social media advice; no surprise, but consumers are completing their transactions more often with these ubiquitous devices.
Also, the traditional retailer is beefing up its investments in their existing online sales sectors; more specifically, the larger stores allow sales associates to order out-of-stock merchandise for the customer real-time; this, while giving a nod to online shoppers who want to pick up their order at the store.
Surprisingly, most of the ecommerce growth is not coming from new shoppers per se, but from existing online shoppers “spending more time and money” with a wider array of product categories now available to them.
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