August 31, 2005
Fresh new numbers from the US Department of Commerce reveal that
eCommerce retail sales increased significantly in the second quarter
of this year. The Commerce Department estimates that US eCommerce
sales for the 2nd quarter of 2005 totaled $21.1 billion on a
seasonally adjusted basis.
On an unadjusted basis, sales for the quarter totaled $19.8 billion. On a quarter-to-quarter basis, unadjusted growth was 3.5% and seasonally adjusted growth was 7.2%.
"Despite rising oil prices, online retail sales continue to exceed expectations," said eMarketer's Jeffrey Grau. But he worries that oil prices could crimp spending. "Consumers may finally run out of spending money at the most inopportune time for retailers – the holiday shopping season."
For the full year, eMarketer expects online retail sales to rise 22.1%, reaching a total of $84.5 billion.
According to the Commerce Department estimates, online sales accounted for 2.2% of all retail sales in the US during the second quarter, unchanged from the first quarter.
The online percentages are low because the overall retail estimates include categories that generate little or no online sales, such as motor vehicles and parts, food and beverages, and gasoline. These categories alone represent nearly half of total retail sales.
Based on Shop.org and Forrester Research estimates released in May 2005, the four fastest growing online retail categories for 2005 are cosmetics and fragrances, over-the-counter medications and personal care, jewelry and luxury goods, and flowers, gifts and cards.
Source: eCommerce Times
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