Last year, e-commerce sales blew past the $300 billion thresdhold for the first time, closing the year at $304.91 billion, on an unadjusted basis, according to estimates released Tuesday by the U.S. Commerce Department.
Web sales were up 15.4% from 264.28 billion in 2013. On an adjusted basis, full-year web sales were $303.94 billion.
This is is the fifth year in a row that web sales growth has been close to or above 15%.
E-tailers generated 31.4% of full-year sales in the fourth quarter. Unadjusted Q4 sales were $95.98 billion, up 14.7% year over year from $83.71 billion.
On an annual basis, e-commerce accounted for approximately 6.5% of total unadjusted retail sales excluding foodservice — mainly restaurant and bar sales — up from 5.8% in 2013, according to the Commerce Department. When further excluding sales of autos and fuel, which don’t commonly oocur online, Internet Retailer calculates e-commerce accounted for 8.3% of total unadjusted retail sales during 2014, up from 7.4% in 2013.
During the fourth quarter, e-commerce accounted for 7.7% of total retail sales excluding foodservice, up from 7.0% a year earlier, according to the Commerce Department’s unadjusted figures. When further excluding sales of autos and fuel,Internet Retailer calculates e-commerce accounted for 9.6% of total unadjusted retail sales during Q4.
Adjusted for seasonal variations, holiday and trading-day differences, the Commerce Department estimates Q4 web sales reached $79.57 billion, up 14.6% from $69.43 billion a year earlier. On an adjusted basis, e-commerce accounted for 6.7% of total Q4 retail service excluding foodservice, up from 6.1% in Q4 2013.
Total unadjusted retail sales excluding foodservice grew 3.8% in 2014, closing the year at $4.70 trillion.
Separately, the National Retail Federation trade group released its economic forecast for total retail sales and online sales growth for 2015. It projects retail sales, excluding automobile, fuel and foodservice sales, will increase 4.1% this year. It expects the non-store sales category, which is made up primarily of web sales, to grow between 7% and 10%.