U.S. e-commerce sales increased 7.5% year-on-year in Q3, and its share of total retail sales continued to rise

It is learned that recently, according to foreign media reports, in the third quarter of 2024, the growth rate of US e-commerce sales significantly exceeded general retail sales, and its share in total retail sales continued to expand.

According to the latest data from the U.S. Census Bureau, unadjusted e-commerce sales in the third quarter reached $288.8 billion, a 2.2% increase from the previous quarter and a 7.5% increase from the previous year. This year-on-year growth rate was much higher than the 2.2% increase in total retail sales, indicating that consumers' preference for online shopping continues to strengthen. E-commerce accounted for 15.6% of the total retail sales of US$1.8 trillion, higher than 14.8% in the same period last year and exceeding the level during the epidemic.

In addition, according to the retail monitoring report released by the National Retail Federation (NRF), total retail sales in the United States increased by 0.74% month-on-month and 4.13% year-on-year in October. Previously, the total retail sales in September fell by 0.32% month-on-month and increased by 0.55% year-on-year. Online and other non-physical sales performed particularly well, increasing by 1.84% month-on-month and 19.38% year-on-year in October, leading all categories monitored by retail, indicating that online shopping is becoming a major driver of consumer spending.

NRF President and CEO Matthew Shay pointed out that current inflationary pressures are mainly concentrated in the service industry, while prices of some retail goods have fallen. Despite a mixed economic environment, solid growth in retail sales in October set a positive foundation for the holiday shopping season.

Author ✎ Rayna/

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