Online retail sales to reach nearly $250 billion in 2014

By on March 8, 2010, 5:24 PM
E-tailers can expect to see a rise in business over the coming years, according to data from Forrester Research. In a five-year forecast, the firm predicts that e-commerce sales in the US will grow by 10% annually through 2014. Web-based retail sales will reach nearly $250 billion in 2014, up from $155 billion last year. At that point, online transactions will represent 8% of all retail sales in the US, up from 6% in 2009.

Forrester expects a similar, albeit slightly faster growth rate for Western Europe, with online sales increasing by 11% yearly. The outfit believes Internet sales in the region will climb from $93 million (68 million) in 2009 to $156 million (114.5 million) in 2014.

Forrester's figures exclude autos, travel, and prescription drugs. Computers, consumer electronics, and apparel represented more than 44% ($67.7 billion) of online sales last year. Interestingly, while $155 billion worth of consumer goods were purchased online in 2009, $917 billion worth of retail sales were "Web-influenced." Online and "Web-influenced" offline sales together accounted for 42% of all retail sales and that will grow to 53% by 2014




User Comments: 33

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gobbybobby said:

Buying stuff online is great, but everybody loves the yearly trip Christmas shopping right? I see online sales increasing, but it not inpacting too much on high street and outlet sales that shops start having to close.

InsaneVr6 said:

If anything that number will only increase. I always look at items and prices online before I ever even attempt to go to a store. It is so much more convenient but shipping tends to be the reason I head to my local store.

Why pay $10 for something I will get next week when I can spend $15 for something and get it right then. Crude example I know but it all applies.

TorturedChaos, TechSpot Chancellor, said:

I'll believe it. I do a lot of shopping and browsing for stuff online. As with InsaneVr6, anything I want/need that isn't a common day to day item I usually look online for first.

tripplejjj said:

I love online shopping. But before I buy online, I usually go to any store with the actual product to try before I buy. If I like it, then I would offer to buy the product there at the store only if the store would sell it for the same price as the one advertised online. I do admit that it only worked 50% of the times. My wife is embarrass when I do this. Now I do it just to embarrass her.

elroacho72 said:

If I can do it on line I will! I use ebill to help save the planet.

ToastOz said:

Online shopping is an easy way to find a great bargain and compare prices to multiple stores without having to lift a foot. Retail stores and retail prices are for suckers they charge ridiculous prices and are generally only well priced when they have sales on. Plus online stores deliver straight to you door often with cheap or free delivery saving money on petrol and thus less car emissions reduction road congestion making it a green way to shop.

ken777 said:

With everyone trying to close budget deficits, online sales are too big and juicy a target for states to ignore. It's just a matter of time before all online sales are taxed too.

Timonius Timonius said:

Online shopping will have little or no impact on a 'green planet'. You don't drive to get your item from your local Wal-Mart, but shipping from an online retailer could come from halfway across the world. Had to get that off my chest first.

Other than that it is only natural that people will want to save money and have more convenience. I think the growth prediction is a little low. With the ever increasing popularity of netbooks, smartphones, 3G, WiMax, more and more people will have access to online shopping.

ToastOz said:

Technically all the items are shipped from across the world anyway the difference is there shipped to Wal-Mart not my door.

tonylukac said:

I've done much online computer purchasing, but I really prefer shopping retail at Fry's, Best Buy, Tiger Direct (now CompUSA), and office supply stores. I really get better than online deals reading the Chicago Tribune and responding to their sale ads. For example, I got a 17" generic monitor for $70 at TigerDirect outlet. Two years ago (when they were more expensive) I got a 42" hi def lcd tv at Wal-Mart for $598 responding to a Tribune sale ad. I bought and returned a macbook pro from Frys with no restocking fee. These newspaper ad deals just can't be beat, and the stores around here are great.

pyari said:

waiting for that day when I sit in front of computer and buy a product online with in cheap price. I don't have to pay extra money to reseller. This is the fact online business is increasing day by day coz people connecting day by day with the internet.

Recipe7 Recipe7 said:

One important factor for buying online is avoiding state taxes. I know my California brothers feel the same way, hehe. Sucks for those who love to shop at Newegg... but thank god for Tiger Direct, hehe.

TomSEA TomSEA, TechSpot Chancellor, said:

Except for food, I think everything I buy is online...

rufio said:

online shopping is great! especially during the holidays. sure the money is still being spent... but lots of good deals and no line ups!

mrtraver said:

I buy most of my electronics online. Mainly due to price, but selection is also very limited where i live (2 hours to any large urban area). My choices are wal-mart, best buy, and online. Chances are even if i need it fast i can't get it around here, such as when i needed to replace a 40mm fan on my southbridge.

pipopaz said:

Since I live in a small town going shopping is always a frustration, there is almost nothing available at high prices, that's why I only buy everything electronics/computer related online, can go wrong with amazon excellent shipping service! (free shipping that is)

Deso said:

I can't remember the last time I bought something electronic in a regular store, heck I don't even buy books in regular stores, internet ftw ;]

Serag said:

Interesting numbers and insights from the comment for me as someone who lives in a slow developing country, Online shopping is merely starting here, and purchasing from outside can be expensive due to customs applied on certain goods upon arriving "lame I know"..

Puiu Puiu said:

Buying online is so much easier than going to a store and staying in long lines. I believe that in the next decade or so buying online will become as common as drinking beer.

gobbybobby said:

if u worked form home you would not have to leave the house. Ever. you could get everything and anything off the net!

rskapadia2294 said:

shopping on net is gr8! u can compare the features n prices of products by just a mere click!

but going to the shop n actually feeling the product before buying is much more fascinating!

so i prefer goin personally n shoppin! not on the net!

but shoppin on net also saves time n energy! lol

yorro said:

Shopping personally has their own perks, but you have to shop spontaneously in order for it to be a satisfying experience. You know? you were walking then you see a great product, you get interested then you buy it. But I don't think it is worthwhile to drive across town just to buy a single product.

slh28 slh28, TechSpot Paladin, said:

One of the great things about buying online is reading the reviews from other people - even if I see an awesome deal at a high street store I will still go home and check some reviews or to see if there is a better price online.

I think the only time I go to a store is to buy clothes or food - nothing like picking the freshest tomatoes

fref said:

I buy most of my electronics online, and a lot of my books too, but that's about it. For the rest, I find the local store more convenient.

Richy2k9 said:

hello ...

online purchases is just another way for me to spend more of my hard earned cash & it didn't even kill the sales off physical shops. in fact i spend twice as much money since i'm 24hrs connected to the net ... i need to see a therapist, please help! i mostly go for video games, digital downloads & some rare items!

cheers!

LightHeart said:

Online Sales

Online sales are a great alternative to your local store, especially for certian items. Some things you really need to touch and feel before you purchase and others you can be fairly sure they are ok no matter where you purchase them from. It would be good idea to improve the security of purchases though, such as using two form factor identification. The one thing that could upset online sales is when the government starts taxing everything.

levar said:

I agree now'a days especially for computer software and hardware parts are cheaper ordering online than in retail stores so I'd expect most of the sales are via online, the only retail store I know people will acutally go and shop is Frys; for computer hardware and software of course. And I agree with Forrester clothes, accesories..etc yeah.... I'm pretty sure it'll grow and a lot more than computer hardware and software; I mean which one is more of a nessecity for us? As far as it slowing down... eh.. I wouldn't agree with that.

jasonk1229 said:

I buy all of my electronics online, tiger and newegg

ryan29121 said:

Online shopping is the way to go. Especially during the holidays, what better way to avoid crazy holiday shopping than to sit at home and do it.

zyodei said:

I recently sad down and considered it..and realized that it's been more than ten years since I have bought any price sensetive items not online. Either used through craigslist or through web sites..the only things I buy brick and mortar are groceries.

JMMD JMMD, TechSpot Chancellor, said:

I've been shopping online since the time when online retailers were established. When they first started hitting the web for online sales the competition was crazy. The deals I used to be able to get were simply amazing. I still do all my shopping online except for clothes and shoes.

Yoda8232 said:

Shopping online can be fast, easy, and very painless. You have SO much choice, it's the BEST "MALL" because everything is there and there are TONS of stores selling what you what wanting YOU to buy from them. Plus there is a much better selection of most things like computer parts.

harrymaster said:

Online shopping really give us a lot of convenience. Online shopping will definitely become a must for everyone in the near future as it really save us a lot of time comparing prices and different shopping mall and brand. No long queue and no traffic jam at car park. It will soon become a main income stream for country

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