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Online Retail Market in the US to Grow 8x More Than Brick-and-Mortar Retail | Technavio

August 31, 2018

LONDON--(BUSINESS WIRE)--Aug 31, 2018--The 2018 back-to-school shopping expenditure exceeded USD 80 billion with most of this revenue going towards online retailers. Online retailing has become the go-to shopping destination for back-to-school shoppers in the US due to the exponential growth of digital users. Technavio’s research data shows that there were over 201 million digital buyers in the US in 2015, a marked increase from 178 million in 2011.

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Researchers at Technavio forecast the online retail market in the US to grow at a CAGR of almost 16% until 2021. (Graphic: Business Wire)

The global smartphone market has seen tremendous growth over the years and this has created a significant opportunity for e-retail in the US as smartphones are the most-used device for shopping online among consumers. In the US, the total time spent by a consumer on smartphones for shopping was almost 61% in 2016, an increase from 50% in 2014. This growth is expected to catapult forward in the next five years.

Online retail market in the US to grow 8x more than brick-and-mortar retail

Researchers at Technavio forecast the to grow at a CAGR of almost 16% until 2021. The forecast data shows that online retail is likely to grow at a much higher CAGR than brick-and-mortar retail in the US market. While the brick-and-mortar retail market in the country will grow at a CAGR of 2% until 2021, the online retail market is projected to grow at a CAGR eight times more than that of brick-and-mortar retail.

The consumer electronics and electricals segment accounted for the largest market share in 2016. This segment is experiencing high growth, as many consumers prefer to buy mobiles, tablets, LED/LCD TVs, laptops, and other electronics online. Amazon and Walmart are two of the biggest e-retailers in the consumer and electronics segment.

Get more insights on the online retail market in the US:

Seasonal and holiday sales drive the online retail market in the US

Online sales during festive seasons and holidays have increased in recent years and are contributing to the growth of the market. For instance, this year’s back-to-school shopping spend is expected to exceed last year’s spend by a clear margin. This spike is mainly attributed to the increase in dual-income families.

Online holiday retail sales in the US crossed USD 95 billion in 2016, an increase of over 12% compared to 2015. Offers such as free shipping and steep discounts have motivated the US consumers to make purchases online. Apparel, footwear and accessories, consumer electronics, computer hardware, and toys are the largest gaining product categories during the back-to-school holiday season.

This report on the online retail market in the US is available at a USD 1,000 discount for a limited time only:

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About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20180831005177/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD: UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ONLINE RETAIL RETAIL

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 08/31/2018 08:12 AM/DISC: 08/31/2018 08:12 AM

http://www.businesswire.com/news/home/20180831005177/en

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