US eCommerce Gaining Market Share as Growth Slows
Forrester Resarch expects US online shopping to grow at a slower pace this year but to continue to increase its share of the retail pie, from 5% in 2008 to 6% in 2009 and to 8% by 2012.
“US non-travel eCommerce sales grew by 13% from 2007 to 2008 and are expected to grow 11% in 2009. These figures represent a significant slowdown in growth from 2007, when online sales were 18% higher than in 2006. Much of the slowdown in growth is due to consumer confidence issues, which will weigh down eCommerce sales for much of 2009.
Despite the deceleration in growth, Web sales are nonetheless expected to be positive as eCommerce continues to capture market share from brick-and-mortar stores.
“Although the last dot-com crash was accelerated by the wanton spending patterns of reckless Web companies, many of which were retailers, this economic meltdown is much broader, Forrester says. “It is notable for retailers in that revenues are rapidly decelerating for stores across the board, a consequence of declining consumer wealth and confidence.”
For the detailed forecast by sector, see Forrester’s US eCommerce Forecast, 2008 To 2013.
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