Study – Online retail to grow to $512 billion by 2020

Washington, D.C. – Online sales are expected to reach $300 billion in 2014, $335 billion in 2015 and $512 billion by 2020. According to predictions from FTI Consulting Inc., despite sluggish retail sales in the past year, FTI Consulting's Retail & Consumer Product experts believe online sales will continue to grow at a double-digit rate for the next several years.



FTI Consulting reports that the online channel's share of total retail sales (excluding autos and gasoline) is now approaching 11% compared with 7.4% in 2010. The online channel also accounts for approximately 15% of general merchandise, apparel and accessories, furniture and other sales ("GAFO") category spending during the holiday season. FTI Consulting believes that nearly three-quarters of the growth in sales will accrue to the online channel. The continued momentum of the online channel is led by mobile devices.



In addition, prompted by the spillover of spending from holiday gift card redemption, January remains the strongest month for online shopping relative to total monthly retail sales. This trend has strengthened in recent years.



The 2014 Holiday Retail Forecast considers GAFO retail sales and non-store sales for November 2014 through January 2015, and projects a 3.5% increase in nominal holiday sales this season.