Online Retail Growth, A Much Bigger Factor

This is relevant to the retail situation in Ashtabula County. If county shoppers are like those elsewhere, a greater share of their purchases are made online.

According to PWC Consulting, Since 2000, fully three-quarters of retail sales growth has occurred through online channels. That’s an eye-catching statistic, yet not quite the whole story. The online channel now accounts for about 8 percent of total retail sales. But three sectors have been largely untouched by e-commerce: cars, gasoline stations, and groceries. Because these categories are significant, responsible for almost half of total retail sales, online’s penetration of its “addressable market” — in other words, its available pool of revenue — is close to 16 percent. And it is expanding rapidly, at an annual pace of about 15 percent, well beyond the traditional retail, “GDP-like” growth rate. Read the complete report here.

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