It is expected that online sales will account 17% of all US retail sales by 2022, up from a projected 12.7% in 2017, according to Forrester’s new Online Retail Forecast as cited by Digital Commerce 360. The report also expects US online sales to grow 13% in 2017, which is five times faster than projected offline sales growth.
Unsurprisingly, Amazon is expected to be a major driver of this online sales growth. The report states that 83% of US online adults bought something on Amazon in 2016, and 55% of them used Amazon as a research tool before making a purchase. This suggests the company is so heavily entrenched in product discovery and the purchase process that, as Amazon itself grows and improves, so do e-commerce sales.
Brick-and-mortar retailers are caught on the wrong side of the digital shift in retail, with many stuck in a dangerous cycle of falling foot traffic, declining comparable-store sales, and increasing store closures. Over 8,600 retail stores could close this year in the US — more than the previous two years combined, brokerage firm Credit Suisse said in a recent report. Meanwhile, e-commerce pure plays are riding the rise of digital commerce to success — none more so than Amazon, which accounted for 53% of online sales growth in the US last year, according to Slice Intelligence.
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From: Business Insider – Daniel Keyes