U.S. E-Commerce Sales Slip in Q4'22
by:Tom Moeller
|in:Economy in Brief
Summary
- Decline follows four straight quarters of increase.
- Changes in sales are uneven across categories.
Online retail sales edged a seasonally adjusted 0.1% lower (+6.5% y/y) in Q4’22 following increases of 1.6% and 3.1% in the prior two quarters, according to the U.S. Census Bureau. E-Commerce sales accounted for 14.7% of total retail sales in Q4'22 and has been steady at that level since 2020.
The following details of the E-Commerce data by sector are not seasonally adjusted.
Sales of nonstore retailers, which accounted for 59.2% of total E-Commerce, rose 19.1% last quarter (12.4% y/y) following a 1.8% rise in Q3. Clothing accessory store sales surged 41.3% (5.1% y/y) after easing 0.4% in Q3. Sporting goods, hobby, musical instrument & book sales strengthened 34.3% (5.6% y/y) after rising 4.6% inQ3. General merchandise store sales jumped 26.3% last quarter (-0.3% y/y) after falling 2.3% in Q3. Sales of furniture & home furnishings improved 10.7% in Q4 (1.1% y/y) after rising 3.0% in Q3. Food & beverage purchases rose 14.4% (5.8% y/y) after a 0.1% uptick.
Building materials & garden equipment sales rose 3.2% in Q4 (7.1% y/y) after falling 11.4%. Miscellaneous sales including gasoline stations rose 3.9% (8.2% y/y) after falling 5.1% in Q3. Motor vehicle & parts sales weakened 4.0% (-2.5% y/y) following a 5.1% decline.
E-commerce sales are goods and services ordered over an internet, mobile device (M-commerce), extranet, Electronic Data Interchange (EDI) network, electronic mail, or other comparable online system. Payment may or may not be made online and sometimes sale & price are negotiated. Total sales estimates are adjusted for seasonal variation, but not for price changes. They are also adjusted for trading-day differences and moving holidays.
E-Commerce sales data can be found in Haver's USECON database.
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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