US e-commerce sales in Q1 of 2023 have increased, but the penetration rate remains the same

US e-commerce sales in Q1 2023 increased, but penetration rate unchanged

According to BusinessDialogue, on May 18th, the US Census Bureau of the Department of Commerce released data on the country’s e-commerce sales for the first quarter. The data showed that e-commerce sales in the United States increased significantly, but the penetration rate only increased by 0.5% year-on-year in the first quarter.

For seasonally adjusted but non-price-adjusted data, the estimated e-commerce retail sales in the United States for the first quarter were $272.6 billion, an increase of 3.0% (±0.7%) compared to the previous quarter, and an increase of 7.8% (±1.6%) year-on-year. In the first quarter of 2023, e-commerce sales are expected to account for 15.1% of total sales.

On an unadjusted basis, the estimated total e-commerce retail sales in the United States for the first quarter of 2023 is $253.1 billion, a decrease of 16.5% (±0.7%) compared to the previous quarter, and an increase of 8.0% (±1.6%) year-on-year. E-commerce sales are expected to account for 15.1% of total sales.

The growth in the first quarter may indicate that 2023 will be another record year for e-commerce sales in the United States. In February of this year, DigitalCommerce360 reported that total US sales reached $1.03 trillion in 2022, surpassing $1 trillion for the first time.

According to DigitalCommerce360’s analysis, e-commerce growth in the United States is hovering around pre-pandemic levels.

According to the Department of Commerce data analyzed by DigitalCommerce360, the e-commerce penetration rate remained stable at 21.7% in the first quarter of 2023, compared to 21.2% in the same period last year. The stable e-commerce penetration rate indicates that digital shopping habits formed during the pandemic may become the new norm even as stores reopen.

According to data from the US Department of Commerce, the e-commerce penetration rate in the United States is 15.1%, with a small increase.

Although the record online sales peak during the pandemic has subsided, quarterly e-commerce sales continue to grow, albeit at a slower pace. In 2021 and 2022, the share of e-commerce in total retail sales in the United States reached a historic low for two consecutive years. This indicates that offline sales are catching up with e-commerce sales after COVID lockdowns.

The author ✎ Ashley/AMZ123

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