Ecommerce stats for 2007:
U.S. e-commerce sales grew 19% in 2007, the Commerce Department says
In preparation for the IMA (Internet Merchants Assn) ECommerce expo March 3-5 in Vegas, I checked out some figures for ecommerce sales in the USA, blogged by Joyce Schwarz, www.hollywood2020.blogs.com.
2007 -- 19 percent Ecommerce Growth Rate
According to stats I found from the two main research firms Jupiter and Forester, we're heading into a real boom for the next 5 years and last year wasn't too shabby at all with a 19 percent growth rate for ecommerce. Note that overall retail sales only grew by 4 percent according to recent US Commerce Dept reports.
4th Quarter Ecommerce Sales -- Up 18 percent vs 2006
In the fourth quarter, e-commerce sales totaled $36.2 billion, 18% more than the same quarter in 2006, while total retail sales increased 4.7%.
E-commerce accounted for 3.4% of all U.S. retail sales in 2007, up from 2.9% in 2006, the Commerce Department estimates.
However, the Commerce Department retail sales figure includes many sales that are not likely to occur online—such as restaurant, convenience store, gasoline and heating fuel receipts. Excluding such sales, Internet Retailer estimates about 6% of U.S. retail sales occur online.
GROWTH PROJECTED @ 20-30 BILLION each year for the next 5 years -- targeting between $215 and $335 Billiion by 2012
Online retail sales in the U.S. are expected to grow about $20 billion to $30 billion each year for the next five years, reaching somewhere between $215 billion and $335 billion by 2012, according to two recently released reports on e-commerceerences, but not for price changes.
In 2007, non-travel-related e-commerce sales reached $175 billion, a 21% increase over the previous year, according to Forrester Research Inc. In its report, titled "U.S. E-Commerce Forecast: 2008 to 2012," Forrester predicts that online retail sales will reach $204 billion in 2008, $235.4 billion in 2009, $267.8 billion in 2010, $301 billion in 2011, and $334.7 billion in 2012.
JupiterResearch LLC offered lower figures in its report, "U.S. Online Retail Forecast, 2007-2012." According to Jupiter, non-travel-related e-commerce sales were $128 billion in 2007, up from $108 billion in 2006, and will grow to $148 billion in 2008, $166 billion in 2009, $182 billion in 2010, $199 billion in 2011, and $215 billion in 2012.
88 percent of US Online Consumers Say They Purchased Online in Past
According to Forrester, 88% of U.S. online consumers say that they have bought something online in the past and online shopping is growing faster than shopping in physical stores. Retail sales at physical stores are expected to grow at an annual rate of 2.6% from 2007 to 2012, while online sales are expected to grow approximately 14% annually for the same period, Forrester's report said. According to the Jupiter report, e-commerce will grow at an annual rate of 15%.
LAST CALL FOR ATTENDANCE AT IMA CONFERENCE -- For more information about attending the IMA Conference in Vegas go to www.imamerchant.org or call me directly at 310-822-3119, Joyce Schwarz. Note we still have one Platinum Sponsorship left and the hospitality suite is also available for sponsorship.
Both turnkey opportunities-- you show up, everything else is provided. Meet 250 of the top sellers on the web and glad-hand with the wheelers and dealers who will be making those billions in the next 5 years!