E-commerce grows robust 16 percent in Q2, according to US Commerce Dept.
Online retail came in at $97.3 billion, according to the Commerce Department.
The Department of Commerce announced today that e-commerce sales for the second quarter were $97.3 billion, out of $1.2 trillion in total US retail sales. That was a sequential increase of 4.5 percent from Q1 and a significant 15.8-percent pop vs. Q2 2015.
E-commerce came in at roughly eight percent of total retail sales.
Total retail sales grew just over two percent year over year. Accordingly, e-commerce saw dramatically stronger growth (from a smaller base) than traditional retail.
While 92 percent of retail sales happen in stores, many major retailers are suffering. Macy’s, for example, just announced closure of 100 stores. By comparison, several leading online retailers, mostly notably Amazon, have recently turned in very strong results. The Seattle company recently announced $30.4 billion in Q2 revenue, up 31 percent year over year.