Americans to spend $632 billion online in 2020
A study by BI Intelligence has unveiled that e-commerce is only growing, with US consumers anticipated to spend over $632 billion in 2020. This number is a huge jump from the $385 billion that consumers spent online over the course of 2016.
The study also found that in 2015 and 2016 alone, the number of online shoppers has grown by 20 million people, bringing the number of online shoppers to over 224 million. Of note, each of these 224 million customers were found to be making more frequent transactions online.
Furthermore, while brick-and-mortar retail has seen a 2% growth over the first half of 2016, e-commerce growth has been quickly expanding, growing 16% in the first half of 2016 alone.
This sky-high growth is partly due to the huge success of e-commerce mega sites like Amazon and Alibaba. Amazon has ranked number one in customer satisfaction in the retail world in 2016, partly due to the ‘customer-first’ attitude Amazon promotes. Features that give the customer an easy shopping experience, like express shipping, easy returns, competitive pricing, and a vast stock to browse through, has fostered such a loyal Amazon customer base.
The US retailer continues to look for ways to meet customers needs too. Amazon began testing drone deliveries in the United States this week, and has rolled out a grocery service in Seattle.
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