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e-Commerce, Total Spending, Rise Again
Economic data often seems like the weather ' fickle and hard to predict, or rely on.
But raw revenue data doesn't lie, and according to U.S. Census Bureau, overall preliminary estimated retail spending and e-commerce sales in the first quarter of this year reached record highs, with the data adjusted for seasonal variation, trading-day differences and moving holidays, but not price changes.
The Census Bureau put its preliminary estimate for all retail sales at $1.030 trillion, the second quarter in a row in which spending broke the trillion-dollar mark.
e-Commerce preliminary estimated first quarter spending tallied $46 billion ' also a high since the Census Bureau began keeping records of e-commerce spending in 1999.
e-Commerce was up 3.4% ('2.3%) from the fourth quarter and represented 4.5% of all estimated first-quarter sales.
The e-commerce sales figure was 17.5% ('1.8%) over e-commerce sales in the first quarter of 2010, and total estimated first-quarter sales were 8.6% ('0.7%) above e-commerce sales in the first quarter of 2010, the government said.
Not adjusted for seasonal variation, trading-day differences and moving holidays, the Census Bureau's preliminary estimated retail and e-commerce sales figures for the first quarter looked this way:
- Retail e-commerce totaled $43.7 billion, down 17.9% ('2.3%) from the end of last year;
- e-Commerce estimate was up 17.6% ('1.8%) from the first quarter of 2010;
- Total retail was up 8.6% ('0.7%) from the first quarter of 2010; and
- e-Commerce accounted for 4.5% of all sales.
The Census Bureau notes that e-commerce sales are those of goods and services in which an order for the goods or services is placed by a buyer or when price and sales terms are negotiated over an Internet, an extranet, an electronic data interchange (“EDI”) network, or via an electronic mail or other online system. Payment needn't be made online.
Other Perspectives
Online-sales monitoring firm comScore reported an estimated $38 billion in e-commerce spending in the first quarter over the first quarter of 2010, an increase of 12%, which the firm said showed the sixth consecutive “positive” quarter in e-commerce spending.
comScore and the Census Bureau measure e-commerce spending differently, but both first-quarter estimates reflect more people spending than were spending at the same time last year.
Government and private-sector sources said that despite lingering high unemployment across the nation, people who have landed some of the jobs the economy has added in the last four months are spending more discretionary income than a year ago.
Several sales-monitoring firms said that the first quarter estimates also most likely included sales from the holiday season that weren't reported or recorded earlier this year when fourth-quarter data was gathered.
The full Quarterly Retail e-Commerce Sales report is available at www.census.gov/retail/mrts/www/data/pdf/ec_current.pdf.
Michael Lear-Olimpi is Editor-in-Chief of this newsletter. A long-time journalist and professor of writing in a range of genres, he is owner and editorial director of Susquehanna Editorial Services, in Harrisburg, PA. Lear-Olimpi provides writing, editing and article-placement services for law firms and other clients. He can be reached at [email protected].
Economic data often seems like the weather ' fickle and hard to predict, or rely on.
But raw revenue data doesn't lie, and according to U.S. Census Bureau, overall preliminary estimated retail spending and e-commerce sales in the first quarter of this year reached record highs, with the data adjusted for seasonal variation, trading-day differences and moving holidays, but not price changes.
The Census Bureau put its preliminary estimate for all retail sales at $1.030 trillion, the second quarter in a row in which spending broke the trillion-dollar mark.
e-Commerce preliminary estimated first quarter spending tallied $46 billion ' also a high since the Census Bureau began keeping records of e-commerce spending in 1999.
e-Commerce was up 3.4% ('2.3%) from the fourth quarter and represented 4.5% of all estimated first-quarter sales.
The e-commerce sales figure was 17.5% ('1.8%) over e-commerce sales in the first quarter of 2010, and total estimated first-quarter sales were 8.6% ('0.7%) above e-commerce sales in the first quarter of 2010, the government said.
Not adjusted for seasonal variation, trading-day differences and moving holidays, the Census Bureau's preliminary estimated retail and e-commerce sales figures for the first quarter looked this way:
- Retail e-commerce totaled $43.7 billion, down 17.9% ('2.3%) from the end of last year;
- e-Commerce estimate was up 17.6% ('1.8%) from the first quarter of 2010;
- Total retail was up 8.6% ('0.7%) from the first quarter of 2010; and
- e-Commerce accounted for 4.5% of all sales.
The Census Bureau notes that e-commerce sales are those of goods and services in which an order for the goods or services is placed by a buyer or when price and sales terms are negotiated over an Internet, an extranet, an electronic data interchange (“EDI”) network, or via an electronic mail or other online system. Payment needn't be made online.
Other Perspectives
Online-sales monitoring firm comScore reported an estimated $38 billion in e-commerce spending in the first quarter over the first quarter of 2010, an increase of 12%, which the firm said showed the sixth consecutive “positive” quarter in e-commerce spending.
comScore and the Census Bureau measure e-commerce spending differently, but both first-quarter estimates reflect more people spending than were spending at the same time last year.
Government and private-sector sources said that despite lingering high unemployment across the nation, people who have landed some of the jobs the economy has added in the last four months are spending more discretionary income than a year ago.
Several sales-monitoring firms said that the first quarter estimates also most likely included sales from the holiday season that weren't reported or recorded earlier this year when fourth-quarter data was gathered.
The full Quarterly Retail e-Commerce Sales report is available at www.census.gov/retail/mrts/www/data/pdf/ec_current.pdf.
Michael Lear-Olimpi is Editor-in-Chief of this newsletter. A long-time journalist and professor of writing in a range of genres, he is owner and editorial director of Susquehanna Editorial Services, in Harrisburg, PA. Lear-Olimpi provides writing, editing and article-placement services for law firms and other clients. He can be reached at [email protected].
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