E-Commerce Will Boost Total Retail Sales in 2013
This year will see online sales rise between 9 percent and 12 percent compared to last year while total retail sales will increase 3.4 percent, according to the National Retail Federation. The NRF’s Shop.org e-commerce branch also predicts the expected boost in online sales will come on the heels of a year-over-year Web sales increase of 11.1 percent in November and December of 2012. “Retailers will compensate for the drag on household spending this year by managing inventories and focusing on providing value for their shoppers through unique promotions in stores and online and exclusive product lines,” predicts NRF CEO Matthew Shay. The Internet Retailer Top 500 Guide estimates that e-commerce sales in 2011 rose 16.1 percent over the previous year to $194.30 billion, while total retail sales increased 5.5 percent to $2.88 trillion from $2.73 trillion. Despite economic constraints on consumer spending that include modest income growth and the hike in payroll taxes, the NRF projects that both the economy and consumer confidence will improve in the second half of 2013, “should the outlook for job creation and income growth improve,” says NRF economist Jack Kleinhenz.
From “A Sunny Forecast for E-Retail”
Internet Retailer (01/28/13) Demery, Paul