Online growth — and along with it, online market share — continues to accelerate.
The trajectory is so strong that sales are on pace to hit $440 billion in 2017, a leap from $395 billion expected in 2016, according to “U.S. Online Sales Forecast: Omni-Channel Retailing Challenged by Its Success,” a report from FTI Consulting.
Online retail sales growth has accelerated slightly in the past year to just over 14%. While growth will moderately slow to 11.4% next year, this volume eclipses anticipated store-based sales that will range between 2% and 3%, the report said.
As expected, online-only retailers, predominantly Amazon.com, are taking an increasing share of total online sales despite the success to date of many omnichannel retailers — those with a combination of traditional retail stores, online stores or other shopping channels, the report explained.Read Chain Store Age for complete story.