The past decade has seen a massive surge in the popularity of online retail. In 2014, online retail sales represented 5.9% of total retail sales, but in 2016 this increased to 7.4%. By the year 2021, ecommerce is expected to represent 17.5% of total retail sales - furthering the case for shippers to adopt an omnichannel strategy.
So, what is the main factor lying behind the rapid growth of the ecommerce industry? Technological developments and innovations have helped to grow the online retail industry, by making ecommerce sites more accessible and easy to use, thereby ensuring a smooth shopping experience for customers.
What’s more, customer attitudes are changing, with more and more consumers becoming comfortable conducting business online. This charge is being led by the younger “digital native” generations such as Millennials and Generation Z who conduct a large portion of their shopping online.
To discover more about the growth of online retail, read our infographic below.