Online Retail Sales to Account for 10% of Total U.S. Retail Sales by 2008
A report from Forrester Research finds that e-commerce sales will increase at a steady 19 percent year-over-year growth rate, rising to 229.0 billion in 2008 from $95.7 billion in 2003. Online retail sales will account for 10 percent of total U.S. retail sales by 2008. For the next five years, food and beverage, sporting goods, and home goods will outpace more traditional online categories like books and travel. Books, which generated 14 percent of U.S. e-commerce sales in 2000, will fall to 3 percent of total sales over the next five years. Online grocers will continue to make strides, as Forrester projects the most dramatic growth will be seen in the food and beverage category, with sales increasing to $17.4 billion from $3.7 billion over the next five years. Sporting goods, which have found a niche in the used goods market, are predicted to grow to $6 billion from $1.7 billion, with nearly a third of sales coming from used products.
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