While most retail transactions remain in the physical bricks-and-mortar world, the shift to online e-commerce continues. And the e-commerce sector is growing more than twice as fast as the retail sector overall.
This week, the US Department of Commerce announced that US e-commerce sales totaled $41.5 billion in the second quarter of 2010, an increase of four percent from the previous quarter, and close to 14% from a year earlier. Total retail sales, which includes the brick-and-mortar stores, increased six percent for the year.
E-commerce sales in the third quarter of 2010 accounted for 4.2% of total sales. This is up from four percent a year ago, two percent in 2004 and one percent in 2000.
Retail research group eMarketer predicts e-commerce spending during the 2010 holiday season will reach $38.5 billion, up 14.3% over 2009. This marks the second straight year of double-digit e-commerce growth after online sales plunged 7.9% during the 2008 holiday season.
This post was originally published on Smartplanet.com