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Online Growth to Average 21 Percent

16 Jan, 2003 By: Joan Villa

After spurting 30 percent in 2002, online retail will hit $52 billion in sales in 2003 and grow at an average rate of 21 percent annually between 2002 and 2007, according to a new market forecast by Jupiter Research.

By 2007, online sales will reach $105 billion and account for 5 percent of all U.S. retail spending, but more importantly, the Web will influence 30 percent of all offline retail sales, observed the report's lead analyst Ken Cassar.

This influence on brick-and-mortar sales gives manufacturers and retailers a “clear mandate” to actively market, as well as sell, online, he concluded.

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