题目内容：
根据下列材料请回答 题：The recession is taking a serious toll onAmerican retail, but e-commerce could emerge asa winner.According to a new report by ForresterResearch, e-commerce sales (beyond travel) arelikely to (1) 11%, to $156 billion, in 2009. That (2) a slowdown from 13% growth last year and18% in 2007. The major factor (3) to the paceshift is, of course, (4) consumer confidence.
But e-commerce's slowed pace is still farbetter than the National Retail Federation'sforecasted 0.5% drop in (5) retail sales this year.
That means e-commerce is stealing marketshare from (6) retail—and fast. (7) Forrester'sestimates, in 2008 e-commerce (8) . for 5% of allretail sales. In 2012, Forrester thinks e-commercecould have an 8% share.
One recent factor is that online shoppingpromises (9) to price-sensitive consumers. "Therecession is definitely (10) more consumers to dotheir homework before they go and complete a(n) (11) ," says Forrester analyst Sucharita Mulpuru.E-commerce is also somewhat protectedbecause online shoppers (12) to be wealthier:about half of all online shopping is done byhouseholds that earn more than $75,000 peryear, even though they're just about a third of allhouseholds with Internet (13) .
(14) not all Internet companies are set tobenefit (15) . Last month, e-commerce giant eBay (16) its first-ever quarterly revenue decline, (17) Amazon reported a sales surge of 18%.
Smaller players are particularly (18) risk.
"There are some pretty vicious (恶意的) wars ascompanies go online to get market share," saysMulpuru. "The (19) I have is that we could goback down the spiral (螺旋) of death from 1999and 2000, when companies would under-pricethemselves (20) thinking about profitability (盈利).”请在（1）处填上最佳答案。 A．arise
B．grow
C．raise
D．breed
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