Wednesday, February 07, 2007

Double digits growth forecasted for Online Retail Sales

Online sales are projected to hit more than US$200 billion in 2006 as compared to US$176.4 billion in 2005, an increase of almost 20%.
  • Travel is the largest type of product bought online (almost 1/3 of all online purchases).
  • No. 2 is buying computer hardware and software online.
  • Buying autos and auto parts online is No. 3

The main reason for this rising retail sales online is because consumers are becoming more comfortable with using the Internet which has been a hurdle for online retails sales in the past.

At the same time, retailers are trying to integrating their stores with more access to the web by having in-store kiosks that let customers order online if they don't find the right product in the store.

Don't miss out this interesting development by reading this article.

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