Online, in-store sales expected to rise in 2018
Retail industry sales this year are expected to grow between 3.8 and 4.4 percent over 2017, with online and other non-store sales expected to rise between 10 and 12 percent, according to the National Retail Federation’s 2018 economic forecast.
The “robust” holiday season sales were a strong indicator that the coming year is going to be a good one for retailers, said Matthew Shay, president and CEO of the federation.
“Despite headlines to the contrary, the retail industry is strong, growing and meeting consumer demand with the products they want at the prices they expect and the shopping experience they want to have, online or in-store,” Shay said in a statement. “With consumer confidence high, unemployment low and wages growing, there is every reason to believe that retail sales will be robust throughout the year.”
Retail sales grew 3.9 percent in 2017 over 2016 to $3.53 trillion, according to the U.S. Census bureau’s preliminary estimate for the year. The number is subject to revision but exceeded the retail federation’s forecast for growth between 3.2 and 3.8 percent.
Meanwhile, eMarketer released its predictions for retail sales in 2018, and said that e-commerce will grow to represent about 10 percent of total retail sales in the U.S. Sales via mobile devices will make up 39.6 percent of e-commerce sales, eMarketer said.
This year, as in years past, apparel and accessories will capture the largest share of online spending, accounting for 19.7 percent of U.S. e-commerce, according to the forecast. Computers and electronics will capture the second-highest share, with 14.8 percent this year.