U.S. Internet Retail Sales
Chart of the Week for August 19, 2016 - August 25, 2016
One news item of note from last week was that Macy's will be closing 100 of its store locations. That news follows an announcement from Sears Holdings in April 2016 that it would be closing several of its Sears and K-Mart store locations. As internet shopping has continued to grow, brick and mortar store locations for retailers have been increasingly phased out due to real estate and personnel costs, among other factors. The chart above shows the growth in dollar volume of U.S Internet Retail Sales as of the end of the second quarter for the past two years.
For the two-year period covered, internet sales have grown by 32.2%. For the second quarter of 2016, internet sales totaled $97.3 billion, which was a 4.5% change from the first quarter and a 15.8% change year-over-year. The amount of internet sales has grown for 30 consecutive quarters, and now accounts for 8.1% of all retail sales, an increase from 6.3% of retail sales in the second quarter of 2014. Some economists believe that as internet shopping technology continues to grow and allows internet retailers to expand their customer bases and offer more products, the traditional brick and mortar retail shopping experience may continue to decline.
Posted by: sarah_oz@yahoo.com
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