The U.S. retail market has grown 3.8% so far this year — topping 2016’s 2.4% growth — and will reach $3.56 trillion, according to two reports from Forrester research analysts emailed to Retail Dive.
U.S. online sales will rise 14% this year to $459 billion, accounting for 12.9% of total retail sales, according Forrester. The research firm estimates e-commerce will account for 17% of U.S. retail by 2022, with apparel, consumer electronics, and computers accounting for almost one-third of total online sales.
Amazon continues to dominate, Forrester found. The e-commerce giant’s global net retail product sales grew 19% year-over-year in 2016. Last year 83% of adult Americans made a purchase from Amazon and 55% used the company’s platform as a research resource before making a purchase, suggesting that many shoppers use Amazon for shopping research before purchasing elsewhere, Forrester said.
E-commerce is breaking 10% of overall retail sales, according to this report, though other research, including the first-quarter report from the U.S. Commerce Department, still places it below that line, at 8.4%.
Digital sales are also growing as a percentage of the overall market, and that’s hurting retailers’ bottom lines. Analysts are increasingly taking into account the damage that the shift to e-commerce is inflicting on retailers’ margins. In addition to tepid sales overall, “the shift to the variable-cost…