Online retail in the U.S. continues to grow at a rapid rate, outpacing sales growth at traditional stores and stealing market share from them. U.S. online retail sales will reach $370 billion by 2017, up from $231 billion in 2013 — a 10% compound annual growth rate (CAGR) over the next five years, according to Forrester’s latest U.S. online retail sales forecasts. This growth will continue as consumers become more comfortable with purchasing online.
U.S. retail e-commerce sales reached $186.2 billion in 2012, an increase of 15% – the strongest annual growth rate since before the recession, according to new research by comScore. Q4 2012 sales grew 14% year-over-year to $56.8 billion, marking the first ever $50 billion quarter. The top-performing online product categories were: Digital Content & Subscriptions, Consumer Electronics, Toys & Hobbies, Apparel & Accessories, and Books & Magazines.
Ecommerce is a constantly evolving business and therefore it is important for marketers to stay on top of the latest changes in order to succeed in a challenging market. Several key trends in ecommerce in 2011 are taking shape that marketers should be aware of. As part of their ecommerce strategy, marketers should determine the best tools for monitoring and measuring social media outreach and online campaigns.