Smartphones to represent $1.4 trillion in retail sales by 2023

58% of US retail sales are being impacted by the digital industries by 2023, according to research by Forrester. As such, digital technologies are not just influencing retail sales online, but may also affect them in-store.

Forrester further expects retail sales for 2018 to average around $3.7 trillion, with more than one third (36%) being influenced by digital technologies including online marketplaces mobile app and search ads, according to the report.

Furthermore, the analytics firm projects mobile retail sales to reach $118 billion in 2018, signalling the growing role of mobile devices in the US.

Indeed, when it comes to mobile commerce brands and retailers are beginning to value measurement tools and ad options. Previous eMarketer predictions have projected worldwide mCommerce to account for 58.9% of digital sales, with China leading the trend at 67.1% of mCommerce sales in 2017 given the countries dominant mobile-first audience.

In the US, around 31% or $1.1 trillion of all 2018 retail sales were influenced by mobile smartphone devices, according to Forrester. By 2022, mobile devices are likely to play an even bigger role in around 90% of all digital sales. Smartphones will represent $1.4 trillion in retail sales by 2023.

These findings highlight that retail marketers and advertisers must incorporate mobile strategies as mobile interactions become ever more important for consumers.