U.S. E-Commerce Sales Strengthen in Q2'22
by:Tom Moeller
|in:Economy in Brief
Summary
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Sales improve for third straight quarter.
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Increase in sales is broad-based.
Online retail sales rose a seasonally adjusted 2.7% (6.8% y/y) last quarter following a 2.6% Q1 gain and a 1.6% rise in Q4'21, according to the U.S. Census Bureau. E-Commerce sales accounted for 14.5% of total retail sales in Q2'22 and has been steady at that level since 2020.
Sales of nonstore retailers, which accounted for 56.7% of total E-Commerce, rose 10.9% last quarter (NSA, +8.9% y/y) following a 16.3% decline in Q1. General merchandise store sales improved 9.5% (3.7% y/y) after falling 26.2% in Q1. Clothing accessory store sales improved 7.1% (6.8% y/y) after falling 30.2%. Sporting goods, hobby, musical instrument & book sales advanced 5.5% (10.4% y/y) after declining 28.7%. Sales of furniture & home furnishings improved 5.0% (5.2% y/y) after a 15.6% decline. Food & beverage purchases fell 4.2% (-0.3% y/y) following a 3.6% Q1 decline. Building materials & garden equipment sales surged 27.3% (23.2% y/y) after falling 8.0%. Miscellaneous sales including gasoline stations rose 10.5% (17.2% y/y) after easing 0.9% in Q1. Electronics & appliance store sales declined 9.1% (5.2% y/y) after declining 31.6% earlier in the year. Motor vehicle & parts sales strengthened 4.4% (0.8% y/y) following a 2.4% rise.
These details of the E-Commerce data by sector are not seasonally adjusted.
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.
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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