A sluggish economy is not match for the online shopper. Online retail sales are expected to rise 17% in 2008 bringing retail sales online (not including travel) to $204 Billion from $174.5 Billion in 2007.Â
Forester Research Group prepared a report for Shop.org (the online arm of National Retail Federation Group) that predicted this explosive growth in online sales.
For the last decade online sales have grown considerably year-over-year and a sluggish economy could not slow that growth. Consumers are still buying online in big numbers. Online retailers have noted an increase in sales over the last 5 quarters while others have reported diminished returns.
Businesses are again investing more in their web presence and marketing. With consumers flocking to the Internet to shop for everything from cars and electronics to clothes and jewelry e-retailers are seeing sunny skies in a gloomy economy.
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