A recent forecast by Forrester predicts that the retail e-commerce market will grow to about $370 billion by 2017, outpacing sales at traditional brick-and-mortar outlets over the next five years.
Forrester asserts that the growth will be fueled by two factors: Mobile technology in the form of smartphones and tablets, which increase the amount of time we spend online, and an increased investment in online channels from big brands.
What is not going to contribute? An increase in shoppers. Rather, the growth will be driven solely by the increased use of and investment in technology. Long-term plans made now will allow businesses to take advantage of this trend and forward thinkers will capture the minds—and hearts—of highly engaged online consumers early in the game.