Survey News: Online Sales Vault 48%; Online Profitability Also Improves

, the online retail unit of the National Retail Federation reports that despite a lackluster 2002 for retailers, online retail sales jumped 48% to $76 billion. In its annual survey of more than 130 retailers, conducted by Forrester Research, the study also shows that in comparison to 2001 when 56% of respondents reported positive operating margins, 70% reported such gains for 2002.

Overall, retailers broke even in sales for ’02, compared to a 6% loss in ’01. Equally encouraging, the study also showed that retailers overall picked up 40% new customers online to their overall databases.

Looking ahead, the study forecasts online retail sales to grow 26% this year to $96 billion; seven product categories are expected to grow more than 40%. Further, online sales as a percentage of total retail sales are expected to reach 4.5%, compared to 3.6% in ’02.

Partner Content

The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.