Online Sales Growing Four Times Faster Than Overall Retail
The U.S. Census Bureau is reporting that brick-and-mortar retail sales are increasing four times more slowly than their online component. Specifically, E-Commerce sales for the third-quarter jumped 20.4 percent compared with last year's identical quarter, while all retail sales jumped only 4.8 percent.
Perhaps more telling are the actual quarterly revenue figures, which give $27.5 billion in online revenue and almost $1 trillion ($991.7 billion) for all of retail.
Web sales may be comparitively small but E-Commerce is hardly a startup anymore. If it's still bringing in this kind of growth after a dozen years, brick and mortar managers better take notice and get their customer service acts in gear.