Internet sales projected to top $200 billion this year

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Internet sales projected to top $200 billion this year

Washington (DC) – The National Retail Federation has published its report for 2008 online retail sales, predicting that it could rise up to 17% over last year and for the first time crack $200 billion.

The organization’s annual survey from showed that $204 billion is expected in Internet-based purchases this year, despite a slowing economy.

“The fact that online sales will increase substantially this year demonstrates the resilience of the channel and is a testament to the value and convenience most customers find when shopping online,” said executive director Scott Silverman.

In the survey, 53% percent of retailers said their main focus in their online marketing budgets was for new customer acquisition while 21% said it was customer retention.  An impressive 90% said they will pay for featured search results advertising and 65% will increase their focus on outreach via social networking sites.