Data from the US Department of Commerce shows that the number US ecommerce sales has been growing steadily for over a decade.
In 2019, total US ecommerce sales reached $595.5 billion, a 14.9 percent year-over-year increase from 2018’s $518.5 billion. It’s also one of the fastest US ecommerce growth rates in seven years, second to 2017’s 15.5 percent year-over-year increase.
That marks an impressive increase from the turn of the decade in 2010. In nine years, annual US ecommerce sales have multiplied by more than 3.5 times.
According to the latest figures, in the first quarter of 2020 alone, US ecommerce sales reached $160.3 billion. This is a 14.8 percent year-over-year increase from the first quarter of 2019, which is 3 percentage points more than the previous year’s increase but just shy of those of the preceding two years.
Here’s a look at the year-over-year US ecommerce sales growth since 2017.
Total ecommerce sales in the US in Q1 2020 is also a 2.4 percent quarterly increase, which is noteworthy growth, considering retail sales fell 1.3 percent as a result of the coronavirus pandemic.
The largest US ecommerce retailer, Amazon, also saw massive increases in its ecommerce sales for the first quarter of the year. According to the company’s first-quarter revenue figures, its net sales jumped 26 percent year-over-year to $75.5 billion from $59.7 billion in Q1 2019.
Not only are ecommerce sales increasing, but the US ecommerce market share of total retail sales has also been growing. The ecommerce market share in Q1 2020 came in at 11.8 percent of overall retail sales, a 1.3 percentage point increase from Q1 2019’s 10.5 percent.
These are clear signs of how much US ecommerce sales is growing. More impressively, ecommerce sales in Q1 2020 alone are almost equal to 2010’s total ecommerce sales figures. Should this pace continue, US ecommerce sales look set to grow and exceed $600 billion in 2020.
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