2015 has proven to be a successful year of growth for ecommerce sales according to the latest figures from the US Census Bureau. The study looks at approximately 10,000 retail firms excluding food services whose sales are weighed and benchmarked to represent the complete universe of over two million retail firms.
The holiday season is typically a busy period for all ecommerce transactions and Q4 2015 proved no different. Q4 2015 ecommerce sales are estimated to stand at $89.1 billion. Most notable perhaps is the 14.7% increase in ecommerce sales in Q4 2015 versus Q4 2014, as consumers become adept and comfortable with transacting online.
Total ecommerce sales for 2015 are estimated to stand at $341.7 billion which is an increase of 14.6% over 2014 figures. Total retail sales increased by 1.4% for the same period. Ecommerce sales accounted for 7.3% of total sales in 2015.
The following chart maps the positive growth trajectory of US ecommerce sales as a total percentage of retail sales from Q1 2006 to Q1 2015. With the US GDP expected to rise 2.8% according to the World Bank one can only predict another healthy year ahead for ecommerce sales.
Retailers will be increasingly pressured to meet the growing demands of the ecommerce space. Incentives such as free shipping, next day delivery and loyalty programs are contributing factors for such strong growth. On the retailer side, the measurability and accountability from selling online is particularly attractive. Typical bricks and mortar retailers will be forced to review their strategies and begin to operate in an online setting or risk losing out on sales.