Retail market evolving
The rise of e-commerce has been noted for several years, which has caused several retailers to decrease their brick-and-mortar stores.
Online sales in the United States are expected to reach $523 billion in the next five years, and mobile devices are expected to be a key driver in that growth, according to a report from Forrester Research titled “U.S. Cross-Channel Retail Forecast, 2015 to 2020.” Forrester’s data projects that mobile devices influenced more than $1 trillion in total purchases in 2015 between online and offline transactions.
Macy’s, Sears, Target, Kohl’s and JCPenney were among the many companies that reported lackluster sales during the critical holiday period. Overall, holiday spending rose to $658.3 billion in the United States, a 4 percent increase compared to last year,