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Posted by Patti Freeman Evans on February 28, 2011
Forrester has just released its US Online Retail Forecast, 2010 to 2015, and EU Online Retail Forecast, 2010 to 2015. It is clear from our forecast data that online sales in the US and EU will continue to rise as users become increasingly comfortable buying in the online space. In 2010, US online retail sales grew 12.6% to a total of $176 billion. Similarly, EU online retails sales grew 18% in 2010 to a total of $81 billion. The US and EU markets are projected to grow 12% and 13%, respectively, in 2011.
Why is retail eCommerce continuing to grow?
Sucharita Mulpuru’s findings indicate that as shoppers become increasingly web connected, US physical retail shops will have business cannibalized by the online channel. Andrea Carini explains that the southern EU retail market is adopting online purchases slower than their northern counterparts, which he advocates should prompt retailers to “think global, act local.” EU Retailers must adapt their strategies to accommodate these new buyers, while still meeting the expectations of their more tenured online users.