News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

U.S. E-Commerce will Account for 17% of Total Retail by 2022: Report

E-Commerce will Account for 17% of Total US Retail by 2022: Report

E-commerce will account for 17 percent of all U.S. retail sales in five years, up from 12.7 percent this year, according to Forrester Research. The Cambridge, Mass.-based consultancy predicted online retail sales will grow 13 percent in 2017 compared to a year earlier, building on the 16 percent growth from 2015 to 2016, reported by the Department of Commerce. According to Forrester, e-commerce growth in 2017 will outstrip growth in offline sales by 500 percent.

“Online retail sales growth started to accelerate back in 2015 and is now currently outpacing the offline market growth rate by a factor of five,” said Susan Wu, the report’s author.

Most merchant verticals will experience significant growth in e-commerce between now and 2022, but one particularly strong category will be housewares, Wu said in the report.

In the next five years, Wu wrote, “Forrester projects that housewares will replace computers as the third-largest product category, with almost half of this spending occurring online.”

Online retailers and businesses that can get the omnichannel experience right are ready to take advantage of two years of record store closings.

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