E-commerce accounted for 11% of total U.S. retail sales in 2019, up from its previous high of 9.9% in 2018.

 

E-commerce sales grew 14.9% for the year, accelerating from its 13.6% increase a year ago.  Overall retail sales grew about 4% in 2019, albeit off a much larger base.

 

The US retail industry was estimated to have recorded almost $1.5 trillion in sales in Q4 2019, with e-commerce contributing over $187 billion, according to the US Census Bureau.

 

E-commerce remains the key growth driver, however physical retail accounts for 89% of retail sales.  Thus we’re seeing continued expansion of digital players into the physical retail sector.  This includes digital native brands, but also service providers that were built to support e-commerce including payment platforms.