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US Retail E-commerce Was Expected To Account For $385 Billion In 2016

It is estimated that eCommerce sales will reach over $400 billion in the upcoming years. According to Forrester Research, they will account for $414.0 billion in sales in 2018. eMarketer says the amount will reach $491.5 billion in 2018.

BI Intelligence, Business Insider’s premium research service, expected US B2C eCommerce to make up $385 billion in 2016 and predicted it would reach $632 billion in 2020. The research carried out by the company was based on Department of Commerce statistics that estimated how eCommerce was going up year over year in the 1st half of 2016 at 16%.

In 2016, the US had nearly 20 million more online shoppers from 2105. They were spending more and completing more transactions. The total online spending rose from $61 in the 1st quarter of 2015 to $68 billion in the 1st quarter of 2016. As to the number of transactions made online, it grew by 115 million from 2015 to 2016. This is one of the reasons driving eCommerce growth.

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BI Intelligence was also interested in retail sectors that gain benefits from growing online sales. In 2016, more than half of all goods related to media, sporting, and hobby sales were expected to occur online. Electronics were among the most in-demand items being purchased online. They accounted for almost 25% of total sales generating from the Web, apps, or mobile Web. As for online furniture sales, they were expected to make up almost a quarter of total sales in 2016.

According to eMarketer, the 2016 holiday retail eCommerce sales were expected to rise 17%. Digital sales were estimated to outcompete 10% of total retail for the first time. The holiday season is defined as November and December by eMarketer. Total retail sales were expected to go higher 3.3% as compared to the same period in 2015 to make up $884.5 billion.