Online Retail Sales To Top $480 Billion By 2019
US online retail sales will reach $334 billion this year and will grow to $480 billion by 2019, according to Forrester’s latest five-year eCommerce forecast. Already, 69% of the US online population regularly buys products online, with clothing, consumer electronics, and computers generating about a third of all online shopping dollars in the US.
Categories that were once trailing behind in online sales, like furniture and auto parts, will have compound annual growth rates of 15% and 11%, respectively, over the next five years as shoppers become more comfortable researching and buying these products online. By 2019, Forrester projects that the music category, which drove eCommerce growth more than 15 years ago, will be nearly all digital.