According to the latest edition of the annual Internet Trends report published by Silicon Valley venture capitalists Mary Meeker and Liang Wu, there are now more than 2.4 billion people worldwide who use the Internet. As astonishing as that number is, however, it doesn’t even include the number of individuals now using smartphones, which also have Internet browsing capabilities – that number tops 5 billion worldwide! The crazy part is that both of the preceding numbers are growing rapidly.
e-commerce in the US is well on its way to reaching an estimated $370 billion by 2017
Given those astonishing numbers, it should come as no surprise that the consumer marketplace on the world wide web is growing just as quickly. According to Forrester, e-commerce in the US, which topped $231 billion in 2012, is well on its way to reaching an estimated $370 billion by 2017. Moreover, online sales, which already account for 8% of total retail sales, are not only expected to continue their blazing fast growth, but are also on pace to eclipse traditional brick-and-mortar shops.