In 2016, total retail sales across the globe will reach $22.049 trillion, up 6.0% from the previous year. eMarketer estimates sales will top $27 trillion in 2020.
The Internet has changed the way people shop and interact with businesses. With the worldwide base of broadband Internet users (including fixed and wireless) in the 3 billion range as 2015 began, eCommerce has become a frequently used term to refer to a wide range of technology-driven opportunities, from online retail purchases to mobile banking.
With great deals, fast and free shipping, free return guaranties and simple cost comparisons from the comfort of their homes, more and more consumers are choosing to shop online instead of in stores.
According to Plunkett Research Sectors that are growing very rapidly online include the sale of entertainment products, event tickets, travel, apparel and consumer electronics.