In the fourth quarter of 2024, US e-commerce sales increased by 22.1% month-on-month, and its share in total retail sales continued to rise.

It is learned that on February 19, according to foreign media reports, the US online retail market achieved strong growth in the fourth quarter of 2024. As holiday consumption shifted to digital channels, e-commerce sales achieved a month-on-month increase of 22.1% and a year-on-year increase of 9.3%.

According to the latest data released by the U.S. Census Bureau, the growth rate of e-commerce far exceeds that of the overall retail market. In the fourth quarter of 2024, U.S. e-commerce sales are estimated to reach $352.9 billion, an increase of 22.1% from the previous quarter and 9.3% from the same quarter of 2023. In the overall retail market, the share of e-commerce continues to rise. Online sales accounted for 17.9% of total retail sales in the fourth quarter and 16.1% for the whole year, an increase from 15.3% in 2023, showing that the important position of e-commerce in retail continues to consolidate.

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E-commerce sales are estimated to reach $1.19 trillion in 2024, up 8.1% from 2023, while overall retail sales are growing at an annual rate of 2.8%. This increase shows that e-commerce is becoming more dominant in the consumer market, and its contribution to the retail market has increased significantly compared to before the epidemic - the proportion was only 9.7% in 2019.

Specifically, the building materials and garden equipment sectors performed well. The industry rebounded in 2024, with a year-on-year growth of 5.8% and a 10.6% increase in the fourth quarter. It is particularly noteworthy that e-commerce sales in this sector hit a record high, accounting for 14.2% of total sales, an increase of 1 percentage point over the past three years.

However, the furniture industry is sluggish. Despite the growth of the overall retail market, e-commerce sales of furniture products are only $15.3 billion, down 8.2% from 2023. In contrast, the clothing, accessories and general merchandise industry performed strongly, especially in the fourth quarter of 2024, with sales increasing by 10.7% year-on-year. This growth was mainly driven by general merchandise products, with an annual growth rate of 16.5%.

Meanwhile, food and beverages also showed strong momentum in 2024, with e-commerce sales increasing by 8.3% year-on-year, the highest growth since the pandemic, with total sales reaching US$34.6 billion. In real terms, this growth is 5.2%.

Author ✎ Rayna/

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