eMarketer is forecasting that e-commerce spending is expected to grow 13.7% to $51.4 billion in the fourth quarter of 2010. Last year’s 4th quarter sales were $45.2 billion. That translates to a 2010 full-year projection of $162.4 billion in online retail sales, up 12.7% over 2009.
It’s not any real surprise to those of us engaged in e-commerce, though. We’ve seen online sales continue to grow for our clients throughout 2010 as more and more shoppers are turning to e-commerce as a more convenient shopping destination. Not only do shoppers save gas and avoid crowds, but online retail offers a greater variety of products.
As we move into the holiday shopping season, we concur with the prognosticators who predict more and more online shopping for value, selection and convenience. Some “brick-and-mortar” retailers have reported that they may carry less inventory this year due to heightened concerns about the economy. That will also contribute to online growth as frustrated shoppers turn to the Internet to find items not carried in local stores.
In addition, social networks, such as Facebook and Twitter, will help online stores as friends relay bargains and promotions to each other.