As we look toward a better economic climate coming in to 2011, Forrester, a research company, is predicting that online sales will average a 10% growth over the next 5 years. While we saw an economic downturn in 2008, eCommerce has remained one of the only positives in the market and in the last quarter of 2010, particularly December 2010, eCommerce saw a great boost from the holidays.
â€ś…Forrester projects that online retail sales in the U.S. will increase 11.98% this year compared with 2010, to $197.3 billion from $176.2 billion. The annual rate of increase will decline slightly each of the next several years, with online retail sales in 2015 rising 7.81% over 2014, to $278.9 billion from $258.7 billion, Forrester projects. That represents a 9.62% compound annual growth rate for the U.S. over the five-year forecast period.
In Western Europe, Forrester projects online retail sales will rise 13.10% this year over 2010, to â‚¬91.90 billion ($125.57 billion) from â‚¬81.25 billion ($111.02 billion). As in the United States, Forrester projects the annual rate of increase will decline slightly in each of the next several years, with online retail sales in 2015 rising 7.84% over 2014, to 133.64 billion euros (US$182.53 billion) from 123.92 billion euros (US$169.31 billion). The projected compound annual growth rate for Europe over 2010-2015 is 12.47%,â€ť reports InternetRetailer.com
An increase in eCommerce is due to the growing global expansion of eCommerce and many internet retailers will keep expanding their business abroad. Shipping will continue to play a bigger role with eCommerce businesses as the global landscape of shopping is changing and shifting more and more online.