According to a new report from Forrester Research, named "US Cross-Channel Retail Forecast, 2015 To 2020", online sales in the US will reach $523 billion by 2020. That is up 56% from $335 million in 2015 and an average annual growth rate of 9.3%.
Last year 244 million consumers browsed or bought online and Forrester projects that number to hit 270 millions by the end of this decade, driven largely by activity on mobile devices, Internet Retailer reports.
Bigger Screens Means Bigger Sales
Bigger smartphones and faster wireless networks are making it easier for consumers to shop on their phones and this is something retailers need to take into consideration.
– Screen sizes for mobile phones have gradually increased in size and wireless networks are better than before, which has made web browsing easier than ever, says Sucharita Mulpuru, report author and Forrester principal analyst.