by Mike ‘Mish’ Shedlock
E-Commerce sales jumped a strong 4.5% but before anyone gets too excited by the sales growth, E-Commerce represents only 8.1% of sales. Second, seasonal variations are in play.
E-commerce sales are sales of goods and services where an order is placed by the buyer or price and terms of sale are negotiated over the internet, an extranet, Electronic Data Interchange (EDI) network, or other online system. Payment may or may not be made online.
Bloomberg Econoday reports “The non-store component has been a leading strength of the monthly retail sales report, making the strong 4.5 percent quarter-to-quarter gain for second-quarter ecommerce sales no surprise. Year-on-year, ecommerce sales were up 15.8 percent in the quarter. As a percentage of total retail sales, ecommerce continues to move higher, up 2 tenths to 8.1 percent.”