In 2023, the proportion of individuals in Piedmont who had made an online purchase in the past 12 months was approximately 66%. Forecasts predict a consistent upward trend from 2024 to 2028, with the figure expected to rise from 68.83% in 2024 to 80.25% in 2028. Year-on-year growth rates suggest significant increases: 4.2% from 2024 to 2025, 4.0% from 2025 to 2026, 3.8% from 2026 to 2027, and 3.7% from 2027 to 2028. The five-year compound annual growth rate (CAGR) stands at around 4.2%, indicating steady growth in online purchasing behaviors.
Future trends to watch for include:
- The influence of technological advancements on consumer purchasing patterns.
- The impact of economic factors on discretionary spending online.
- The role of younger, tech-savvy demographics in driving digital commerce growth.
- Potential shifts in consumer preferences towards sustainable and locally sourced products online.
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