Online retail sales to consumers in the U.S. reached nearly $400 billion in 2016 by the U.S. Commerce Department’s measure—a 15.6% jump compared with 2015. That’s the biggest jump in three years and far eclipses the growth in retail sales in physical stores, which barely reached 2.6% last year.
It means e-commerce now comprises 11.7% of total retail sales when factoring out the sale of items not normally purchased online, such as fuel, automobiles and sales in restaurants. It also means that in only a decade the web has more than doubled its share of retail sales. Ten short years ago, e-commerce was at 5.1% of total retail sales.
What’s more, the leaders in online retail—those ranked in the just-released 2017 edition of the Internet Retailer Top 1000—are driving the bulk of those sales. . . . more