Global| May 19 2020E-Commerce Sales Strengthen
by:Tom Moeller
|in:Economy in Brief
Summary
The U.S. Commerce Department reported that during the first quarter of this year, retail sales via the internet (E-Commerce) rose 2.4% (SA) from Q4. The gain followed a 2.2% Q4 rise. E-Commerce sales increased a steady 14.8% y/y. This [...]
The U.S. Commerce Department reported that during the first quarter of this year, retail sales via the internet (E-Commerce) rose 2.4% (SA) from Q4. The gain followed a 2.2% Q4 rise. E-Commerce sales increased a steady 14.8% y/y.
This strength compares to a 1.3% Q1 decline (+2.1% y/y) in retail sales. As a result, E-Commerce sales rose to 11.8% of total retail sales last quarter, up from 10.9% in 2019 and, by comparison, 4.4% in 2010.
Detail of the E-Commerce data are not seasonally adjusted. Compared to last year, these figures show strength in most categories during Q1'20, led by an 80.5% y/y rise in food & beverage purchases. Furniture & home furnishing store sales rose 23.4% y/y. Furniture and food, however, account for relatively little of E-Commerce sales overall. Nonstore retail sales, which account for 60% of total E-Commerce sales, rose 12.4% y/y. General merchandise sales, which account for nine percent of the total, rose 21.6% y/y.
E-commerce sales are sales of goods and services whereby the buyer places an order, or the terms of the sale and price are negotiated 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. 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.
| Q1'20 | Q4'19 | Q3'19 | Q1'20 Y/Y | 2019 | 2018 | 2017 | ||
|---|---|---|---|---|---|---|---|---|
| Total Retail Sales (%) | -1.3 | 0.5 | 1.0 | 2.1 | 3.4 | 4.2 | 4.6 | |
| % of E-Commerce Sales | ||||||||
| Total E-Commerce Sales (SA) | 100 | 2.4 | 2.2 | 4.7 | 14.8 | 14.9 | 13.4 | 15.5 |
| Total E-Commerce Sales (NSA) | -- | -21.1 | 27.7 | 4.7 | 14.5 | -- | -- | -- |
| Nonstore Retailers (NSA) | 60 | -19.8 | 22.8 | 5.2 | 12.4 | NA | NA | NA |
| Motor Vehicles & Parts | 5 | -11.5 | 1.3 | 4.4 | 4.6 | -- | -- | -- |
| Furniture & Home Furnishings | 2 | -6.4 | 18.6 | 4.1 | 23.4 | -- | -- | -- |
| Building Materials & Garden Equipment | 2 | -6.6 | 7.6 | -9.5 | 18.6 | -- | -- | -- |
| Clothing & Accessories | 8 | -36.4 | 57.8 | 4.8 | 9.6 | -- | -- | -- |
| General Merchandise | 9 | -42.3 | 74.0 | 3.5 | 21.6 | -- | -- | -- |
| Food & Beverages | 1 | 8.4 | 30.1 | 12.8 | 80.5 | -- | -- | -- |
| Sporting Goods, Hobby, Musical Instruments & Books | 1 | -25.7 | 33.6 | 19.0 | 12.9 | -- | -- | -- |
| Miscellaneous (Including Gas Stations) | 3 | -10.2 | 5.5 | -0.4 | -2.8 | -- | -- | -- |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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