Online sales growing strong, seen over 300 billion dollars by 2010

0 Comments | AFP, August, 2004

US-Internet-retail

WASHINGTON (AFP) ? US online retail sales are on a strong growth track, and will likely hit 316 billion dollars by 2010, a technology research firm said.

Forrester Research pegged US online sales at some 144 billion dollars this year, and sees a 14 percent annual growth rate that would bring the Internet sector to some 12 percent of all US retail sales, from less than two percent currently.

Surveys on online spending vary greatly, with differing definitions of the holiday season and online purchases. Government figures, for example, exclude travel bookings and some other services online.

US government data showed 2003 online sales at 54.9 billion dollars, representing about 1.6 percent of all retail sales last year.

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