Online retail sales momentum is so strong that volume will increase at a compounded annual growth rate (CAGR) of 9% over the next decade.
Based on this rate, U.S. online retail sales are expected to surpass $1 trillion in 2027. This eclipses the $445 billion sales level expected for 2017, according to the “2017 U.S. Online Retail Forecast,” a report from FTI Consulting.
According to the data, U.S. online retail sales grew by 15.5% year-over-year (“YOY”) through the second quarter of 2017. This surpassed online sales growth from 2016, which reached 14.9% YOY. Overall, the online channel now accounts for 12.2% of total U.S. retail sales (excluding auto and gas). However, this number is expected to reach 22% by 2027.