December 04, 1998
Consumers Making More Purchases Online
Consumer acceptance will fuel the rapid growth in online retail sales and help drive more than 40 million U.S. households to shop online by 2003, a report done by Forrester Research, Cambridge, MA concluded. The report, Retail's Growth Spiral, also showed that by the year 2003 online retail sales will account for 6 percent of U.S. consumer retail spending.
The report revealed that travel sales will reach $30 billion within five years, and during that same period sales for replenishment goods like groceries and personal care products will reach $19 billion. Forrester stated that research for the study showed first-time online buyers tend to purchase convenience items like software and books.