E-commerce Sales are projected to Grow as Retails Shift Focus
According to a report by Statista, e-commerce sales are projected to grow at a strong pace as many retailers are shifting focus on online sales and marketing. The report indicates that in 2015, online sales of physical goods amounted to 294.45 billion US dollars and are projected to surpass 485 billion US dollars in 2021.
The Apparel and accessories segment is projected to generate a close in on 100 billion U.S. dollars in revenue by 2021. The United States however, ranks behind several other countries in terms of e-commerce sales as percentage of total retail sales. In 2016, almost a fifth of China's retail sales occurred via the internet, compared to only 8.1 percent in the United States.
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