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BizReport : Ecommerce : January 30, 2009
Forrester: Growth forecast for 2009 online retail sales
Despite the recession, online retail sales will continue to grow, according to new projections released by Forrester Research, albeit at a slower rate and at the expense of physical stores.
U.S. online retail sales are projected to rise 11% this year to $156 billion. Although this represents an overall slowdown, in the current economic environment it's just a small slide from last year's growth of 13%.
"Even as companies continue to struggle, the important take-away is that the Web is continuing to grow," said Forrester analyst Sucharita Mulpuru, who believes that the continuing growth in online sales will come at the expense of bricks and mortar stores. "It's taking wallet share away from the rest of the retail world."
Consumers are turning to the Internet for all their shopping needs as it provides a better environment to price-check, ensuring the best bargains at a time when money is tight, along with the convenience and cost-saving elements of being able to shop from home.
Online sales are expected to make up 7% of overall retail revenue in 2009, compared with 6% last year.
Tags: Forrester, online retail, online sales, retail revenue
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My thoughts are the online chickens are coming home to roost,with many economies having 60-70% of their work forces currently employed buy small businesses ,many retail related industries ,the online domain if it keeps expanding,alot of people won't have jobs and thus no money to spend online anyway..It's already happened in the USA with it being so reliant on service type industry,it now dosn't actually make anything muchimanufaturing wise.Anyone that actually thinks online is going to be a great bennifit to society in the longer term is kidding themselves.Find somthing to occupy yourself time wise!!!! there will be lots spare of that for some of us in the future !!! but not much money !!!!