Online Retail Sales Grow But Rate of Growth Decreases

Cyber Monday has been the largest annual online spending day since 2010 and this year is no different. With $89 billion in online holiday sales in 2014, up from $78.7 billion last year, retailers are seeing a major boost from online sales but the rate of growth is slipping. The number of online shoppers have increased by 3.4 million people in 2014 and the average shopper will spent 10 percent more in 2014 compared to 2013. While this all point to increased growth in e-commerce, researchers say that is not necessarily the case. Forrester Research points out that the number of new online shoppers has decreased this year as most online shoppers have been shopping online for a while.

Mobile shopping has bolstered online retail sales with 213 million consumers expected to have smartphones in the 2014 holiday season. On Thanksgiving and Cyber Monday in 2013, mobile sales accounted for 34 percent and 38 percent of shopping. That being said, desktop PC’s were the choice electronic for actually purchasing items with 71.7 percent of online sales occurring on PCs.

Shoppers with access to phones on heavy sale dates, like Black Friday for instance, often choose to research and buy on those devices to capture great deals,” said analyst Sucharita Mulpuru.

Online commerce is also getting some help from consumers across the pond who, despite their lack of Thanksgiving celebrations, are hopping on to the Black Friday bandwagon. Shoppers in Europe are taking advantage of Black Friday and Cyber Monday sales from major online retailers like Amazon and Apple. Consumers in the EU, particularly in Britain, have contributed $44 billion in sales.

 

Read More – U.S. Thanksgiving, Black Friday Sales Break $1B: Total Holiday Spend Online Will Be $89B (TechCrunch, Ingrid Lunden)

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Originally from Gaithersburg, Maryland, Millan is a senior at the George Washington University studying Biological Anthropology.

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