Online retail in both the U.S. and Western Europe is poised for serious growth over the next five years, according to two new forecasts by Forrester Research Inc. U.S. online retail will grow at a 10 percent compound annual growth rate (CAGR) over the next five years to reach nearly $249 billion by 2014.

Launch a new e-commerce venture today and you might be met with some skepticism by friends, colleagues and investors. Fear not; e-commerce isn’t a trend but now a way of life. In the U.S., Web shopping will account for 8 percent  of  total  sales  by 2014. More importantly, 53 percent of total retail sales in the U.S. will be influenced by e-commerce, as consumers increasingly use the Internet to research products before  purchasing.

“Despite the economic downturn that has affected everyone from Madison Avenue to Main Street, the state of the e-commerce industry (despite a noticeable dip in transactions and sales) has remained strong, thanks to continued improvements in technology. Internet retailers that have adopted “best of breed” solutions are expecting big profits in the coming years.”

- Website Magazine