Consumer Spending

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

Retail eCommerce Sales Remained Constant in August 2023

Monthly Retail eCommerce – United States – August 2023

• In August 2023, Retail Trade in the U.S. saw a 0.6% increase in sales, reaching $606.8 billion, indicating robust consumer spending and a positive outlook for small businesses in this sector.

• Nonstore Retailers, which include e-commerce businesses, maintained steady sales at $116.1 billion, with no change from the previous month. Small businesses in this sector should focus on competition, adaptability, and customer experience.

• Small retailers should consider seasonal factors, expand their online presence, and monitor emerging trends to stay competitive in the retail industry, taking into account the data from the U.S. Census Bureau’s Advance Monthly Sales report.

By Richard S. Kim & Company, ago

Retail eCommerce Sales Increased 1.9% in July 2023

Monthly Retail eCommerce – United States – July 2023

• Retail trade sector displays recent positive growth, reflecting potential rise in consumer confidence and spending.

• Nonstore retailers, including online businesses, experience substantial expansion, highlighting the growing preference for digital shopping.

• Small business owners advised to stay adaptable to market fluctuations and capitalize on the steady growth of nonstore retail through enhanced online presence.

By Richard S. Kim & Company, ago

Retail eCommerce Sales Increased 1.9% in June 2023

Monthly Retail eCommerce – United States – June 2023

• Retail trade experienced modest month-over-month and year-over-year growth, indicating stable consumer spending and a positive overall trend.

• Nonstore retailers saw significant month-over-month and impressive year-over-year growth, highlighting the increasing importance of e-commerce in modern consumer behavior.

• Small business owners should focus on optimizing online presence, enhancing customer experiences, and staying attentive to market trends to thrive in these evolving sectors.

By Richard S. Kim & Company, ago