The United States online retail market is one of the most progressive industries in the US. The constant improvement from online retailers of websites and services aids growth in online retail sales.
According to a recent report, titled 'Online Retail in the United States - Market Research Report,' the US online retail sector had total revenues of $172.5 billion in 2011, representing a compound annual growth rate (CAGR) of 8% between 2007 and 2011.
Electronics sales proved the most lucrative for the US online retail sector in 2011, with total revenues of $38 billion, equivalent to 22% of the sector's overall value.
Every year, more than 100 million Americans purchase goods from the online retail marketplace, one of the fastest-growing sales channels in the United States. Since the start of the decade, revenue for the Online Retail & e-Commerce industry has grown at an exceptional rate, outperforming most brick and mortar retail industries.
With sales in online retail in the United States constantly growing, store-based retailers are witnessing a declining need for large retail space, and has led to a process of downsizing for a number of retailers.
The 'United States Online Retail, E-Retail, E-Tailing Market & Forecast Analysis to 2017' report has stated that the biggest driver of growth in the industry is the adoption of smartphones, tablets and other mobile Internet devices. Consumers prefer mobile browsers when shopping, searching and entertaining themselves, while preferring applications for navigation and acquiring information.
The continued advancements in technology are improving navigation and customer experience on ecommerce sites, which is improving reviews and thus drawing more traffic to the sites.
US shoppers are now finding it easier to shop than ever before, due to the improvements in mobile and tablet shopping capabilities. Innovative shopping models and loyalty programs - think flash sales sites like Gilt and Woot as well as subscription loyalty programs like Amazon Prime - and aggressive promotions are drawing sales away from brick-and-mortar operations.
For more information on the US online retail market, see the latest research: Online Retail Market
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