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e-Commerce Continues To Rise
Preliminary estimates of first-quarter e-commerce activity from the U.S. Census Bureau show a continued rise in the value of services and goods procured and exchanged online or by other electronic conduits.
Retail e-commerce sales for the quarter, adjusted for what the government describes as 'seasonal variation and holiday and trading-day differences,' totaled $19.8 billion, an increase of 6.4% from the fourth quarter of last year. The estimated total is not, however, adjusted for price changes that occurred during the sales period, the Census Bureau noted.
That e-commerce total is up 23.8% from the first quarter of 2004, indicating possible further recovery of the economy, though the Census Bureau didn't comment on the figure as an indicator of overall economy activity in the e-commerce sector of the U.S. economy. Percentage-wise, the increase is 7.3% more than estimated retail e-commerce sales in the first quarter of 2004.
Total first-quarter 2005 estimated retail sales rang up $916.9 billion ' a 1.5% hike from the fourth quarter of 2004. e-Commerce in the first quarter of this year was 2.2% of total estimated retail sales.
With no adjustment, the figures rang true to the ongoing trend of a dip in estimated e-commerce sales in the first quarter from the fourth quarter of the previous year. Without adjustment for seasonal variation and holiday and trading-day differences, estimated retail e-commerce sales were $19.2 billion, down 10.8% from an unadjusted estimate of total similar sales from the fourth quarter.
Unadjusted, estimated first-quarter ecommerce sales accounted for 2.3% of total sales, the Census Bureau said.
ADJUSTMENTS TO ACCOMMODATE CHANGE
The Bureau adjusted its fourth-quarter estimates for economic variables that were immeasurable, or that couldn't be measured reliably, at the time of the fourth-quarter report this winter.
Estimated retail e-commerce cashouts came to $18.4 billion, or 2% of the estimated total 2004 fourth-quarter take of $938.5 billion in all retail sales for the quarter. The government then revised its February estimate of adjusted total e-commerce sales at $18.6 billion, and total estimated adjusted retail sales at $903.6 billion.
In the revised figures, for which price changes and other movable costs and expenditures are accounted, e-commerce was 2.1% of total sales, and up 5.5% over e-commerce sales in the third quarter.
With adjustments, the preliminary estimated first-quarter 2005 e-commerce retail total appears to once again be the highest on record. Each quarter since the Census Bureau began tracking e-commerce activity since the third quarter of 1999, the sector has bettered the previous quarter's activity. The prima facie meaning:
e-Commerce is growing, despite a recently dragging economy, and the technological and legal barriers that many new entrepreneurs in the sector believe bar their quick arrival at striking it rich.
E-COMMERCE DEFINED,
AND A BIT ON THE FIGURES
The government considers e-commerce to be any sale of services or goods conducted when a buyer places an order, or negotiates sale price and terms, via Internet, extranet, electronic data interchange (EDI), e-mail or other online channel.
Payment needn't be made online. Estimates of total and e-commerce retail sales are based on figures from the Bureau's Monthly Retail Trade Survey (MTRS) and the Bureau's, and other agencies' administrative records. Estimates and final sales figures are taken from MTRS samples.
The Bureau's figures are based on a sample that is itself based on probabilities, and reflects all firms with employees that conduct retails sales that fit the definition maintained by the North American Industry Classification System (NAICS). All retailers sampled by the survey are included whether or not they conduct e-commerce. Not classified as retail establishments, and as not providing retail services, are online travel sites, financial brokers and financial dealers, and ticket agencies, the Bureau notes.
[IMGCAP(1)]
Michael Lear-Olimpi is Editor-in-Chief of e-Commerce Law & Strategy. Contact him at [email protected].
Preliminary estimates of first-quarter e-commerce activity from the U.S. Census Bureau show a continued rise in the value of services and goods procured and exchanged online or by other electronic conduits.
Retail e-commerce sales for the quarter, adjusted for what the government describes as 'seasonal variation and holiday and trading-day differences,' totaled $19.8 billion, an increase of 6.4% from the fourth quarter of last year. The estimated total is not, however, adjusted for price changes that occurred during the sales period, the Census Bureau noted.
That e-commerce total is up 23.8% from the first quarter of 2004, indicating possible further recovery of the economy, though the Census Bureau didn't comment on the figure as an indicator of overall economy activity in the e-commerce sector of the U.S. economy. Percentage-wise, the increase is 7.3% more than estimated retail e-commerce sales in the first quarter of 2004.
Total first-quarter 2005 estimated retail sales rang up $916.9 billion ' a 1.5% hike from the fourth quarter of 2004. e-Commerce in the first quarter of this year was 2.2% of total estimated retail sales.
With no adjustment, the figures rang true to the ongoing trend of a dip in estimated e-commerce sales in the first quarter from the fourth quarter of the previous year. Without adjustment for seasonal variation and holiday and trading-day differences, estimated retail e-commerce sales were $19.2 billion, down 10.8% from an unadjusted estimate of total similar sales from the fourth quarter.
Unadjusted, estimated first-quarter ecommerce sales accounted for 2.3% of total sales, the Census Bureau said.
ADJUSTMENTS TO ACCOMMODATE CHANGE
The Bureau adjusted its fourth-quarter estimates for economic variables that were immeasurable, or that couldn't be measured reliably, at the time of the fourth-quarter report this winter.
Estimated retail e-commerce cashouts came to $18.4 billion, or 2% of the estimated total 2004 fourth-quarter take of $938.5 billion in all retail sales for the quarter. The government then revised its February estimate of adjusted total e-commerce sales at $18.6 billion, and total estimated adjusted retail sales at $903.6 billion.
In the revised figures, for which price changes and other movable costs and expenditures are accounted, e-commerce was 2.1% of total sales, and up 5.5% over e-commerce sales in the third quarter.
With adjustments, the preliminary estimated first-quarter 2005 e-commerce retail total appears to once again be the highest on record. Each quarter since the Census Bureau began tracking e-commerce activity since the third quarter of 1999, the sector has bettered the previous quarter's activity. The prima facie meaning:
e-Commerce is growing, despite a recently dragging economy, and the technological and legal barriers that many new entrepreneurs in the sector believe bar their quick arrival at striking it rich.
E-COMMERCE DEFINED,
AND A BIT ON THE FIGURES
The government considers e-commerce to be any sale of services or goods conducted when a buyer places an order, or negotiates sale price and terms, via Internet, extranet, electronic data interchange (EDI), e-mail or other online channel.
Payment needn't be made online. Estimates of total and e-commerce retail sales are based on figures from the Bureau's Monthly Retail Trade Survey (MTRS) and the Bureau's, and other agencies' administrative records. Estimates and final sales figures are taken from MTRS samples.
The Bureau's figures are based on a sample that is itself based on probabilities, and reflects all firms with employees that conduct retails sales that fit the definition maintained by the North American Industry Classification System (NAICS). All retailers sampled by the survey are included whether or not they conduct e-commerce. Not classified as retail establishments, and as not providing retail services, are online travel sites, financial brokers and financial dealers, and ticket agencies, the Bureau notes.
[IMGCAP(1)]
Michael Lear-Olimpi is Editor-in-Chief of e-Commerce Law & Strategy. Contact him at [email protected].
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