Figures released by the US Department of Commerce on Thursday revealed that US retail e-commerce sales In Q1 2022, which totaled about $250B, grew by only 2.4% over the 4Q total.
DOC said its numbers were adjusted for seasonal variations but not price increases. Factoring inflation into the 2.4% growth of sales essentially flattens the e-commerce growth curve, which has been faltering since the third quarter of 2021, when e-commerce retail sales actually declined by -0.7% compared to the previous quarter.
Overall US retail sales were estimated at $1.75T in Q1 2022, an increase of 3.7 percent over the results for Q4 2021. Total retail sales increased 10.5% on a YOY basis in the first quarter.
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