Online Retail Sales Expected To Double By 2023

Every analytics firm has its prediction on how much online retail sales will grow. For example, a recent report from FTI Consulting forecasts U.S. online retail to double by 2023. Over the next decade, FTI expects online sales volume will have an annual growth rate of 9%.

Based on that rate, U.S. e-commerce sales could surpass $1 trillion in 2027. This year online sales are expected to be $445 billion, according to the FTI report. Through the first half of this year, U.S. online retail sales increased 15.5% from the same period last year. FTI notes online retail accounts for 12.2% of total U.S. retail sales, excluding automobiles and fuel. Analysts with FTI expect online to comprise 22% of the overall U.S. retail market over the next decade.

“You know the future has arrived when life starts to resemble an episode of the Jetsons,” authors Christa Hart, Khaled Haram and John Yozzo noted in the report.    MORE

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