NEW YORK: Online retail sales in the US are set to improve by just 7% in 2008, rising to a value of $137 billion (€106bn; £92bn), according to figures from online data specialist eMarketer, which also predicts that growth rates for web sales will remain in single digits until 2012.
Having lowered its previous estimates for 2008, the company now reveals that this year will be the first since measurement began in 1999 when growth fell below 10%.
eMarketer also reports that online sales growth is slowing as the downturn impacts consumer spending and the number of people shopping online nears saturation point.
In the light of these facts, the major driver of future expansion will be extant consumers spending more online and less on Main Street as they seek cheaper prices, a wider selection of products and greater convenience.
Data sourced from AdWeek (US); additional content by WARC staff