Retail Forward: Online Xmas shopping up to $17B

Retail Forward reported this week that it projects retail sales will rise during the 2003 holiday season by 4% from the previous year’s season. Specifically in the online retail sector, Retail Forward projects a rise of 27% in the 2003 holiday season over that of 2002, with sales totaling $17.5 billion in Q4. For an idea of whether or not Retail Forward?s projection for Q4 is on track, the US Department of Commerce (DoC) reports that online retail sales in the US totaled $11.92 billion in the first quarter of this year and $12.48 billion in the second quarter.