Though still a small percentage, Internet sales continues to garner a larger share of retail sales as a result of a robust trend that started several years ago — thanks to the wealthy.
Retail and food sales barely chugged along at $422.8 billion in June 2013 for a mere monthly increase of 0.4 percent, says the U.S. Census Bureau. But non-store retailers, such as catalogs and Internet sales, jumped 13.8 percent over June 2012.
For example, three years earlier:
Internet retail sales increased to an aggregate $32.9 billion in the U.S. during the second quarter of 2010, according to research firm comScore.
That was a 9 percent increase over 2009’s total, and represented the third straight quarter of increases after the previous weak sales during the downturn.
Sales were up 17 percent among households with an income of $100,000 or higher.
Consumers were spending their money the following ways:
— Consumer electronics (excluding PC peripherals)
— Computer software (excluding PC games)
— Computers/peripherals/PDAs; and books and magazines.
It’s also worth noting that retailers with multi-channels gained the most market share vis-à-vis companies with merely an online presence.
It also underscored how the affluent fared better in the Great Recession and afterward during the so-called economic recovery.
comScore released this data:
|Retail E-Commerce (Non-Travel) Growth Rates
Excludes Auctions, Autos and Large Corporate Purchases
Total U.S. – Home/Work/University Locations
Source: comScore, Inc.
|Quarter||E-Commerce Spending ($ Millions)||Y/Y Percent Change|
From the Coach’s Corner, if you’re like other businesses and want to sell more, here are related articles:
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“But economic recovery must be earned. And it will be earned by entrepreneurs and it will be earned by small businesses.”
-Jon Huntsman, Jr.
Author Terry Corbell has written innumerable online business-enhancement articles, and is a business-performance consultant and profit professional. Click here to see his management services. For a complimentary chat about your business situation or to schedule him as a speaker, consultant or author, please contact Terry.
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