eCommerce is losing steam
eCommerce is losing steam
Since the beginning of online shopping, AKA eCommerce, it has enjoyed an average 25 percent annual growth, far more than many categories; however, in the last past year it has stopped sharply in sectors such as books, tickets, office supplies, health, pet supplies, beauty products and computer peripherals.
The slowdown is the result that consumers seem to be experiencing Internet fatigue and are changing their shopping habits. It is a turning point and growth will continue to slow through the decade.
Still, Internet commerce is growing at a pace that traditional merchants would envy. Sales on the Internet are expected to reach $116 billion this year, or 5.2 percent of all retail sales, making it harder to maintain the same high growth rates. Furthermore, online sales are not growing as fast as they were 18 months ago.
