When the holiday receipts are tallied at the end of the year, U.S. B2C e-commerce will have grown to $385 billion in 2016 on its way to $632 billion in 2020, predicts BI Intelligence. The research company based its estimates on Department of Commerce statistics that measured year-over-year e-commerce growth in the first half of 2016 at 16 percent. The e-commerce surge will also be driven by the fact that the 20 million more online shoppers the U.S. produced this year are spending more and transacting more frequently.
BII also looked at what retail segments are benefitting most from increased online sales. More than half of all media, sporting goods and hobby sales will take place online in 2016. Electronics will remain one of the most popular items to buy online, with nearly 25 percent of total sales coming through the Web, mobile Web or apps. And, online furniture sales, despite suffering from what BII calls logistical barriers, also will reach nearly a quarter of total sales in 2016.