For Jack Ma, executive chairman of Alibaba Group Holdings, today is an extremely busy and lucrative day because the company he founded 15 years ...
The U.S. Department of Commerce reports e-retail sales of $5.5 billion in the second quarter of 2000, a 5.3% increase over the first three months of the year and a 6.2% increase since the fourth quarter of 1999, when it first started tracking retail e-commerce.
The increase in e-retail sales was evident across most industries. The strongest growth was in autos, sporting goods, and apparel. This represents a solid platform for growing e-commerce activity over the next year, the DOC says.
The IT sector represents only about 8% of the economy but has contributed more than 33% of real economic growth. The DOC plans to release other measures of the growing e-commerce sector early next year.