Online sales grew 27% last year, the Commerce Department reports
Online retail sales in the U.S. grew 26.9% to $45.6 billion last year over 2001, the Census Bureau of the Department of Commerce reported today. Total retail sales in the U.S. grew 3.1% for the year to $3.26 trillion. E-retail now accounts for 1.4% of all retail sales, up from 1.1% in 2001.
While private researchers had reported such growth earlier--in fact, comScore Networks Inc. released its full-year 2002 report on Dec. 31, reporting 29% growth--many researchers benchmark their numbers against the Commerce Department. Most researchers base their results on consumer activity while the Commerce Department bases its on a survey of 11,000 retailers.
Q4 online sales grew 28.2% to $14.3 billion, the Commerce Department reported. Total retail sales for the fourth quarter of 2002 were estimated at $869.6 billion, an increase of 1.6% from the same period a year ago. Online sales accounted for 1.6% of total retail sales, the Commerce Department reported, up from 1.3% in Q4 2001 and 1.3% in Q3 2002.
Fourth quarter 2002 e-commerce sales increased 29.3% from the third quarter of 2002 while total retail sales increased 5.1% from the prior quarter.
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