To further the notion that we are in the midst of a paradigm shift when it comes to consumer's shopping habits, web sales gained even more ground on slumping bricks and mortar sales.
Q3 online sales grow at 5.7%, reports the Commerce DepartmentOnline retail sales in the third quarter grew 5.7% on an adjusted basis over the third quarter of 2007, reaching $34.4 billion, the Census Bureau of the U.S. Department of Commerce announced today.
By contrast, total retail sales in the third quarter increased 0.3% to $102 billion. The total retail sales numbers, however, are skewed by the high cost of gasoline and food.
Sales in those categories were up 17.8% and 5.1%, respectively, in the quarter over the year-earlier quarter.
Gasoline and food and beverage sales represent about 30% of retail sales, (so if you throw out the two entities that are not normally purchased online, and adjust $102b by 30% the figure becomes $71.4 billion for bricks vs. eCommerce numbers of $34.4 billion ).
The Commerce Department’s report of e-commerce sales growth is supported by Internet usage measurement company comScore Inc., which reported last week that Q3 sales were up 6%.
For additional information about Census Bureau e-business measurement programs and plans visit http://www.census.gov/estats. Here's a snippet...
By contrast, total retail sales in the third quarter increased 0.3% to $102 billion. The total retail sales numbers, however, are skewed by the high cost of gasoline and food.
Sales in those categories were up 17.8% and 5.1%, respectively, in the quarter over the year-earlier quarter.
Gasoline and food and beverage sales represent about 30% of retail sales, (so if you throw out the two entities that are not normally purchased online, and adjust $102b by 30% the figure becomes $71.4 billion for bricks vs. eCommerce numbers of $34.4 billion ).
The Commerce Department’s report of e-commerce sales growth is supported by Internet usage measurement company comScore Inc., which reported last week that Q3 sales were up 6%.
For additional information about Census Bureau e-business measurement programs and plans visit http://www.census.gov/estats. Here's a snippet...
The Census Bureau of the Department of Commerce announced today that the estimate of U.S. retail e-commerce sales for the third quarter of 2008, adjusted for seasonal variation, but not for price changes, was $34.4 billion, an increase of 0.3 percent (±1.3%)* from the second quarter of 2008. Total retail sales for the third quarter of 2008 were estimated at $1,018.8 billion, a decrease of 1.4 percent (±0.2%) from the second quarter of 2008. The third quarter 2008 e-commerce estimate increased 5.7 percent (±1.5%) from the third quarter of 2007 while total retail sales increased 0.3 percent (±0.5%) in the same period. E-commerce sales in the third quarter of 2008 accounted for 3.4 percent of total sales.
On a not adjusted basis, the estimate of U.S. retail e-commerce sales for the third quarter of 2008 totaled $31.6 billion, a decrease of 2.8 percent (±1.3%) from the second quarter of 2008. The third quarter 2008 e-commerce estimate increased 4.6 percent (±1.5%) from the third quarter of 2007 while total retail sales increased 0.9 (±0.5%) in the same period. E-commerce sales in the third quarter of 2008 accounted for 3.1 percent of total sales.
On a not adjusted basis, the estimate of U.S. retail e-commerce sales for the third quarter of 2008 totaled $31.6 billion, a decrease of 2.8 percent (±1.3%) from the second quarter of 2008. The third quarter 2008 e-commerce estimate increased 4.6 percent (±1.5%) from the third quarter of 2007 while total retail sales increased 0.9 (±0.5%) in the same period. E-commerce sales in the third quarter of 2008 accounted for 3.1 percent of total sales.
FYI: The Quarterly Retail E-Commerce sales estimate for the fourth quarter of 2008 is scheduled for release on February 17, 2009 at 10:00 A.M. EST.
In related news, the web gave Nordstrom Inc. it's only good news in an otherwise bleak third quarter.
For third quarter ended Nov. 1, Nordstrom GREW web sales by 8.5% to $163.8 million from $151 million in the prior year. Comparable store sales declined 11.1%.
Overall total sales dropped by 8.4% as Nordstrom, posted net earnings of $71 million on sales of $1.80 billion, compared with net earnings of $166 million on total revenue of $1.97 billion in Q3 of 2007. For the first three quarters of the year, Nordstrom grew web sales by about 10.1%
For third quarter ended Nov. 1, Nordstrom GREW web sales by 8.5% to $163.8 million from $151 million in the prior year. Comparable store sales declined 11.1%.
Overall total sales dropped by 8.4% as Nordstrom, posted net earnings of $71 million on sales of $1.80 billion, compared with net earnings of $166 million on total revenue of $1.97 billion in Q3 of 2007. For the first three quarters of the year, Nordstrom grew web sales by about 10.1%
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