Monday, 14 May 2012
Monday, 5 March 2012
U.S. Online Retail Sales to Reach $327 Billion by 2016 [STUDY]
The future of ecommerce looks bright. After topping $200 billion for the first time, online retail sales in the U.S. are forecast to reach $327 billion by 2016, a study from technology and market research firm Forrester says. Overall share of the retail market is expected to increase from 7% to 9% during that period.
What’s driving the growth? More consumers are shopping online every day. Last year, 167 million consumers — 53% of the U.S. population — purchased something online. That number is expected to grow to 192 million, or 56% of the population, by 2016. The study also projects that consumers’ average yearly online spending will increase from $1,207 per person in 2011 to $1,738 per person by 2016.
Consumers are also becoming increasingly comfortable purchasing a wider variety of categories online. In a 2001 survey, Forrester found only three of the 30 retail categories were able to attribute more than 20% of sales to online channels. That number grew to eight categories in 2011, and is expected to increase to 14 categories by 2016.
U.S. shoppers are also now finding it easier to shop than ever before, thanks to improvements in mobile and tablet shopping capabilities. Innovative shopping models and loyalty programs — think flash sales sites like Gilt and Woot as well as subscription loyalty programs like Amazon Prime — and aggressive promotions are drawing sales away from brick-and-mortar operations. This was especially true during big discount periods such as Black Friday and Cyber Monday, during which approximately 75% of consumers said they shopped online because the deals were better.
Meanwhile, online sales in Europe are expected to amount to 171 billion euros ($230 billion) in Europe by 2016 up from 96.7 billion euros ($130 billion) in 2011, according to Forrester’s estimates.http://mashable.com/2012/02/27/ecommerce-327-billion-2016-study/
UK & Europe Retail Sales: IMRG (Interactive Media in Retail Group)
The UK’s industry association for e-retailing:
· The UK is Europe’s leading e-retail economy, with sales estimated to have reached £68.2bn in 2011 [find out more]
· Global e-retail sales increased by almost 25% to €591bn in 2010 [find out more]
· The UK e-retail market is currently growing at 16% per annum, in spite of the recession [find out more]
· e-Retail now accounts for 17% of total retail sales in the UK [find out more]
· The UK’s per capita spend of€1333 per annum is the highest in the world [find out more]
· The digital commerce market provides employment for over 730,000 people in the UK [find out more]
· 32 million people shop online in the UK [find out more]
· More than one billion parcels are shipped from online purchases each year in the UK [find out more]
IMRG Capgemini e-Retail Sales Index: February 2012
e-Retail sales grew 16% year-on-year in January, with Britons spending an estimated£5.96bn shopping online. The IMRG Capgemini e-Retail Sales Index reached 7734, down from 10,376 in December 2011. A monthly decline between the months of December and January is typical, following a peak in festive sales during December. The monthly decline of 25% is in line with historical trends recorded in the Index - between December 2010 and January 2011 the Index fell 25% and between December 2009 and January 2010 it recorded a decline of 22%.