Sales from consumers shopping on mobile phones will increase to $38 billion this year and sales from tablets will hit $76 billion, or about $114 billion in total according to Forrester Research. That’s up significantly from last year smartphone commerce sales of $24 billion and tablet sales of $48 billion. More than 29% of all online retail sales in the US will be transacted on smartphones and tablets by the end of 2014. Media goods (e.g., video, music, books), clothing, and consumer electronics account for the majority of the approximately $86 billion in mobile phone and tablet eCommerce sales, and an additional $28 billion will be sold on these devices in other categories such as travel and food-services/restaurant ordering.
Online retail sales in the US are only $294 billion in 2014, or approximately 9% of all sales in the US. Strong compound annual growth rate (CAGR) of 9.5% between 2013 and 2018 for US eCommerce, yielding approximately $414 billion in online sales by 2018. By 2018, Forrester expects that online sales will account for 11% of total US retail sales.