This won’t come as much of a surprise to anyone who’s come to rely on Amazon Prime, but online shopping is here to stay.
Bespoke Investment Group on Tuesday highlighted the US Census Bureau’s latest retail sales estimates, which this week found that so-called nonstore sales made up 11.813% of total sales in February.
This was the first time on record that online sales beat out brick-and-mortar sales in the Census Bureau’s general-merchandise category, which accounted for 11.807% of total sales, according to the firm.
It’s not a major difference, as Bespoke pointed out in its analysis. “Sure, we had to go out to three decimal places, so the margin of different is extremely small,” the firm said.
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