United States online retail sales are on a strong growth track, and will probably hit $316-billion by 2010, a technology research firm said on Wednesday. Forrester Research pegged US online sales at about $144-billion this year, and sees a 14% annual growth rate that would bring the internet sector to about 12% of all US retail sales, from less than two percent currently.
Surveys on online spending vary greatly, with differing definitions of the holiday season and online purchases.
Government figures, for example, exclude travel bookings and some other services online.
US government data showed 2003 online sales at $54,9-billion, representing about 1,6% of all retail sales last year.
By Forrester’s calculation, online retail sales will make up seven percent of the total for the United States in 2004.
Forrester said it sees travel as one of the biggest categories, growing to about $119-billion by 2010, to be followed by home products ($43-billion), and apparel ($28-billion). ‒ Sapa-AFP