Consumer acceptance will fuel the rapid growth in online retail sales and help drive more than 40 million U.S. households to shop online by 2003, a report done by Forrester Research, Cambridge, MA concluded. The report, Retail's Growth Spiral, also showed that by the year 2003 online retail sales will account for 6 percent of U.S. consumer retail spending.
The report revealed that travel sales will reach $30 billion within five years, and during that same period sales for replenishment goods like groceries and personal care products will reach $19 billion. Forrester stated that research for the study showed first-time online buyers tend to purchase convenience items like software and books.
