Q4 online retail sales to reach $20 billion, predicts Forrester
Forrester Research Inc. weighs in with a prediction of a $20 billion fourth quarter for online retail sales. That’s an uptick from Q3 online sales that fell to $17 billion from the previous quarter. Within the fourth quarter, the shortened holiday shopping season will ring up an expected $9.5 billion online, Forrester projects.
While that’s still an increase from last year’s holiday season online retail sales of $8.3 billion, an uncertain economic climate will hamper larger e-commerce growth, according to Forrester, which cites the dockworker lockout, threat of war, and declining consumer confidence as factors. Nevertheless, industry leaders such as Amazon and eBay should fare well and help boost the industry to projected levels for the holiday season and the fourth quarter, Forrester says.
“While more consumers will shop online this year, they are pinching pennies more than ever,” says Forrester analyst Carrie Johnson. “Due to lingering economic concerns, consumers will spend less this season--$433 per person versus $463 in the 2001 holiday season.”
Forrester includes online travel and events ticket purchases in its numbers.
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