AI

Retail eCommerce Sales Increased 1.1% in September 2023

Monthly Retail eCommerce – United States – September 2023

• In September 2023, the Retail Trade sector in the United States recorded total sales of $613.02 billion, with a 0.7% month-over-month (MoM) increase and a 3.0% year-over-year (YoY) growth, indicating a positive trend for small businesses in this sector.

• Nonstore Retailers, including e-commerce businesses, reported total sales of $118.02 billion in the same month, showing a robust 1.1% MoM increase and an impressive 8.4% YoY growth, underlining the sector’s resilience and potential for expansion.

• Small businesses in Retail Trade and Nonstore Retailers should consider these insights to fine-tune their strategies and leverage the market dynamics, especially the growth potential in the e-commerce sector, as consumers continue to prefer online shopping.

By Richard S. Kim & Company, ago

7 Ways AI is Transforming Small Business Accounting

• AI is transforming the way small businesses approach accounting.

• AI can automate time-consuming tasks, provide more accurate financial insights, and make accounting easier, faster, and more efficient.

• AI can help small businesses achieve greater accuracy in their accounting by automating data entry and identifying and correcting errors in financial data.

• AI can provide small businesses with real-time insights into their financial health by analyzing large amounts of financial data.

• AI can help small businesses detect fraud by analyzing financial data and identifying unusual patterns or anomalies.

By Richard S. Kim & Company, ago