E-commerce, the buying and selling of products and services on the internet, is growing with no indication of slowing down. Today, U.S. consumers spend anywhere from $1000 – $1200 online every year on average. In addition, e-commerce only accounts for about 7% of sales in the U.S.
Here are some statistics that will give you a preview of just how much e-commerce is going to grow in the next 3-5 years.
These numbers paint a rosy picture of the state of e-commerce in the next 3-5 years. Today, retailers (especially brick & mortar retailers) must focus on developing/executing the tactics and strategies they need to be successful online. In addition, they will need to start implementing the tools and platforms that will best allow them capitalize on the rapid growth of online retail. Those who don’t will most surely fall behind.