eMarketer slightly reduced its estimates for worldwide retail sales for 2016 through 2021, mainly because of foreign currencies’ weak exchange rates relative to the US dollar, said the research group. Despite this, ecommerce sales will increase 23.2% in 2017 and, for the first time, account for one-tenth of total retail sales, says eMarketer. The U.S. Department of Commerce already pegs e-commerce at about 10%, but this is the first time eMarketer figures hit that milestone.
According to the market research firm, total retail sales will reach $22.737 trillion by the end of this year, up 5.8% from 2016.　eMarketer includes sales across all retail channels in its estimates for overall retail. This includes sales from ecommerce retailers and transactions that occur over C2C platforms such as eBay and other auction sites, and sales by motor vehicle and parts dealers and by gas stations. Travel, event ticket and restaurant sales are excluded from eMarketer’s forecast of retail and retail ecommerce.
The retail ecommerce market — which includes products and services ordered via the internet over any device — will total $2.290 trillion in 2017.
Over 1.66 billion internet users ages 14 and older will purchase at least one item via any digital channel this year, up 9.4% from 2016 — the first time growth will slip below 10%. This will represent 60.2% of internet users and 26.8% of the global population.
