Major retailers investing in multichannel selling, and the rising popularity of tablets and smartphones, will help Internet sales spike—and outpace—physical stores in the coming years.
A Forrester Research study finds that online sales in the U.S. will hit $262 billion this year—a 13.4-percent increase compared to 2012. By 2017, that total will jump to $370 billion—a compound annual growth rate of 10 percent.
Europe is also expected to see a spike in online sales, as Internet sales there are expected to reach 191 euros by 2017—a 10.5-percent compound annual growth rate compared to this year, when sales are projected to reach 128 billion euros, the study finds.
These growth rates are “strong,” says Sucharita Mulpuru, the author of the study.
Brick-and-mortar shops are not expected to see such surges. In fact, “online retailers’ growth will outpace that of physical stores,” she adds.
In the U.S., three shopping categories will benefit the most from the expected spike, Mulpuru reports. She says apparel, accessories and electronics will “capture over one-third” of online total sales.
