Businesses that sell products through online credit card payment processing likely saw a boost in their sales recently, as online retail purchases continue to increase in volume across the U.S.
The Census Bureau of the Department of Commerce announced today that U.S. retail e-commerce sales increased by 3.6 percent during the third quarter of 2013, accounting for a total of $67 billion in revenue. Total retail sales made at payment processing stations both online and at brick-and-mortar stores accounted for a total of $1,140 billion in revenue, increasing by slightly more than one percent when compared to second quarter figures, illustrating how the growth of e-commerce is significantly outpacing the growth of brick-and-mortar retail outlets.
Chris Christopher, of IHS Global Insights, told MarketWatch that while consumer mood is suggesting a downturn in overall holiday sales, most consumers are increasing the amount they spend at online credit card processing pages.
“Clearly the clicks are outpacing the bricks,” Christopher told the news outlet.
The Census Bureau of the Department of Commerce noted that e-commerce sales accounted for 5.9 percent of all sales made at retail outlets during the third quarter, a statistic that continues to increase consistently. The comScore firm, for example, reported to Investors.com that it expects U.S. online retail sales to increase somewhere between 12 and 15 percent during the holiday shopping season.
These trends are even being represented in the sales that Americans are choosing to take advantage of. Nielsen recently reported that only 13 percent of American shoppers plan to visit a brick-and-mortar store outlet during Black Friday, down significantly from figures recorded during 2012. However, roughly 46 percent of all shoppers plan to shop online at an e-commerce store outlet during Cyber Monday – up notably from the 30 percent who claimed they’d do so during the year prior.Back To Blog