Traditional retail is still strong; Online Retail continues to grow exponentially

Traditional retail is still strong; Online Retail continues to grow exponentially

Here is a block from a recent from DigitalCommerce360 (The old internetretailer.com).

Early analysis from Internet Retailer show online retail sales in the U.S. crossed $517 billion in 2018, a 15.0% jump compared with 2017. The growth in retail sales in physical stores reached 3.7% last year. This means that eCommerce now accounts for 14.3% of total retail sales when factoring out the sale of items not normally purchased online, such as fuel, automobiles and sales in restaurants. And it also means that in only a decade, the web has more than doubled its share of retail sales. Ten short years ago, eCommerce was at 5.1% of total retail purchases.

As you read this, I bet you will fall into one of two camps; Doom and gloom – “Ecommerce is taking over the world. Ecom growth is crushing in-store growth; whatever are we going to do?”  -or- Bring it – “Even with the growth of eCommerce, in-store retail still consists of 85% of retail”. How you view this continuing trend will determine how you navigate the next year(s). I encourage all to see the tremendous positive of this; in-store is still HUGE. However, you cannot ignore omnichannel! You have to have an aggressive posture to connect all the dots – online and offline. Enjoy the read. If you are not a subscriber – I encourage you to consider. (Nope – don’t get anything for this, Just a source of information I find extremely valuable – your call).

A decade in review: Ecommerce sales vs. retail sales 2007-2018

 

Retail on!

Jesse