Skip to main content

U.S. 3Q e-Commerce Sets New Retail Record

Reuters reports that U.S. retail sales transacted via the Internet and other electronic networks gained 4.5 percent in the third quarter from the second quarter and accounted for a record 2.8 percent of total retail sales in the period, according to a government study.

E-commerce sales surged 20.9 percent in the third quarter compared to a year ago. E-commerce sales gains of more than 20 percent on a year-on-year basis have been the norm in recent quarters, the U.S. Commerce Department said.

Total retail sales grew 0.7 percent in the third quarter from the prior quarter. Sales via the Internet and other electronic means totaled a seasonally adjusted $27.5 billion in the third quarter, which is a small chunk of total sales at $991.7 billion.

But the 2.8 percent share is a record high, up slightly from the prior record of 2.7 percent in the previous quarter. E-commerce sales include goods and services bought over the Internet but exclude online travel services, ticket sales, and financial services.

The U.S. government began collecting this data in 1999. It currently collects data from an 11,000 sample of retail firms, that the government estimates to total about 2 million.

Popular posts from this blog

Growing Venture Capital in APAC AI Market

Technology is a compelling catalyst for economic growth across the globe.  Artificial intelligence (AI) rides a seismic wave of transformation in the Asia-Pacific (APAC) region — a market bolstered by bold government initiatives, swelling pools of capital, and vibrant tech ambition. The latest IDC analysis sheds light on this dynamic market. Despite a contraction in deal volumes through 2024, total AI venture funding surged to an impressive $15.4 billion — a signal of the region’s resilience and the maturation of its digital-native businesses (DNBs). Asia-Pacific AI Market Development The APAC AI sector’s funding story is not just about headline numbers but also about how and where investments are shifting. Even as the number of deals slowed, the aggregate value of investments climbed, reflecting a preference among investors for fewer but larger, high-potential bets on mature or highly scalable AI enterprises. The information technology sector led the AI investment charge. Top area...