Online Stores Grab No. 2 Spot in $520 Billion US Retail Market
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Online shopping has become the second-biggest chunk of the $520 billion U.S. retail market, after overtaking grocery stores and restaurants in June.
Spending at nonstore retailers, which includes online vendors such as Amazon.com, rose 1.7% last month and drove the overall increase in sales, according to the Commerce Department. Those outlets accounted for 12.45% of the national retail spend in June — ahead of the 12.44% going to grocery stores, and 12.41% at restaurants and bars.
It was the first time that nonstore retailers had grabbed the No. 2 ranking among the 13 categories that the Commerce data is broken into. Vehicles and auto parts stores continued to account for the biggest chunk of U.S. spending, about one dollar in five.
After seasonal adjustment, Americans spent $64.7 billion at nonstore retailers in June. The category contributed about half of the overall 0.4% rise in retail sales.
