Dive Brief:
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For the first time ever, online retail sales exceeded $300 billion in a year, with $304.91 billion in 2014, up 15.4% from $264.28 billion in 2013, according to Commerce Department estimates released Tuesday.
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Q4 online sales accounted for 31.4% of that full-year total in 2014, according to the report.
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It’s the fifth straight year that e-commerce growth year-over-year has hovered around 15%, according to Internet Retailer magazine. The publication also estimates that e-commerce accounted for 8.3% of total unadjusted retail sales in 2014, up from 7.4% in 2013.
Dive Insight:
E-commerce remains a fraction of retail commerce, but it’s hit a big milestone in the U.S., with growth to stay steady. The e-commerce picture is more than numbers, though.
This is no longer a situation of web retailers vs physical retailers. Some of the most successful e-commerce setups have ventured into brick-and-mortar seeking to create more enriching interactions with customers. But perhaps even more significant, retailers of all sizes have stepped up their web sales and are close to obliterating that divide.