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Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller May 18, 2021
Online retail sales, more formally known as "E-Commerce sales," increased 7.7% (39.1% y/y) in Q1'21 on a seasonally adjusted basis, according to the U.S. Census Bureau, after easing 0.9% in Q4 and 1.2% in Q3.
The Q1 increase in E-Commerce sales compares to a 7.8% increase in overall retail sales during the same period. This overall measure of retail sales excludes the food services and restaurants. E-Commerce sales account for 13.6% of total retail sales, compared to 10.7% in 2019 and 4.4% in 2010.
Details of the E-Commerce data by sector are not seasonally adjusted. Sales of nonstore retailers, which accounted for 56% of total E-Commerce sales in Q1'21, fell 11.8% (+31.5% y/y) after an 18.1% rise in Q4. Online sales of motor vehicles and parts increased 4.7% (45.0% y/y) in Q1. Sales of furniture & home furnishings declined 16.8% (+49.0% y/y) while building materials & garden equipment sales weakened 5.6% (+63.1% y/y. Clothing accessory store sales fell by roughly one-third q/q, but rose by one-third y/y. General merchandise store sales weakened 36.4% (+62.4% y/y). Sporting goods, hobby, musical instrument & book sales were off 27.3% (+48.8% y/y) in Q1 and reversed the Q4 gain. Food & beverage purchases were little changed q/q but have doubled y/y.
E-commerce sales are goods and services ordered over an Internet, mobile device (M-commerce), extranet, Electronic Data Interchange (EDI) network, electronic mail, or other comparable online system. Payment may or may not be made online and sometimes sale & price are negotiated. Total sales estimates are adjusted for seasonal variation, but not for price changes. They are also adjusted for trading-day differences and moving holidays.
The retail sales and retail E-Commerce sales data can be found in Haver's USECON database.
Q1'21 | Q4'20 | Q3'20 | Q1'21 Y/Y | 2020 | 2019 | 2018 | ||
---|---|---|---|---|---|---|---|---|
Total Retail Sales (SA) | 7.8% | 0.6% | 12.1% | 16.8% | 3.1% | 3.0% | 4.2% | |
% of E-Commerce Sales (Q1'21) | ||||||||
Total E-Commerce Sales (SA) | 100.0 | 7.7 | -0.9 | -1.2 | 39.1 | 31.7 | 14.1 | 14.4 |
Total E-Commerce Sales (NSA) | -- | -16.7 | 23.2 | -1.1 | 39.0 | -- | -- | -- |
Nonstore Retailers (NSA) | 56 | -11.8 | 18.1 | 3.5 | 31.5 | 23.1 | 13.6 | -- |
Motor Vehicles & Parts | 7 | 4.7 | 2.4 | 17.5 | 45.0 | 14.9 | 12.4 | -- |
Furniture & Home Furnishings | 2 | -16.8 | 20.6 | -5.6 | 49.0 | 50.0 | 11.9 | -- |
Building Materials & Garden Equipment | 3 | -5.6 | 1.5 | -16.3 | 63.1 | 64.4 | 16.9 | -- |
Clothing & Accessories | 7 | -33.5 | 47.1 | -2.8 | 33.2 | 26.4 | 9.6 | -- |
General Merchandise | 9 | -36.4 | 60.2 | -13.2 | 62.4 | 52.4 | 21.5 | -- |
Food & Beverages | 4 | -0.1 | 11.6 | -9.4 | 106.5 | 141.1 | 57.7 | -- |
Sporting Goods, Hobby, Musical Instruments & Books | 1 | -27.3 | 27.2 | -11.0 | 48.8 | 62.8 | 6.3 | -- |
Miscellaneous (Including Gas Stations) | 2 | -2.7 | 14.6 | 7.6 | 24.2 | -10.8 | 3.4 | -- |