The start of the holiday season saw a significant increase in online sales among many retailers nationwide. The increase is consistent with the past few years, as the fourth quarter of 2023 is expected to outperform the previous quarters.

[Shenzhen, 2/1/2024] - The holiday shopping season in the United States unofficially starts on Thanksgiving, particularly on Black Friday. Online shopping, such as retail sales in general, significantly increases in the fourth quarter. In 2022, online sales reached $303.1 billion in October-December, a 23.4 percent rise compared to the first nine months of the year.

Black Friday

Black Friday was originally believed to be named after retailers going from "in the red" to "in the black" due to holiday sales. However, the origins trace back to Philadelphia police in the 1950s, who called it "Black Friday" due to the challenges posed by the influx of holiday shoppers downtown.

Growth in Fourth Quarter Sales

Online sales continue to grow during the fourth quarter, with a share of 16.3 percent in 2022 and a projected increase for 2023. With $793.7 billion in retail e-commerce through the first three quarters, online shopping is expected to have another significant year.

Consistent Growth

From 2000 to 2020, online sales experienced consistent growth, with periodic jumps in the fourth quarter. The online share of total retail sales increased from 0.7 percent in Q4 1999 to 12.4 percent in Q4 2019, marking a significant shift in consumer behaviour.

Surge in Online Sales

The pandemic disrupted shopping patterns globally, leading to a surge in online sales. E-commerce sales in 2020 reached $205.3 billion in the second quarter, a 55 percent increase from the previous year. Although the share of online sales decreased as physical stores reopened, it remained higher than pre-pandemic levels. In the fourth quarter of 2022, 16.3 percent of retail sales were online, compared to 16.1 percent in 2021.

Beneficial Effects of Online Sales

Non-store retailers dominate the online sales market, accounting for nearly 62 percent of all retail e-commerce sales in the third quarter of 2023. Their e-commerce sales grew by 12.4 percent compared to the previous year. In contrast, retailers with physical stores experienced varying growth and decline in online sales across different sectors. General merchandise stores saw an 8.7 percent increase, while electronics and appliance stores saw a 1.6 percent decrease.

About E-Commerce Express

E-Commerce Express is a China-based sourcing and professional fulfilment company. With a bilingual team, they excel in product sourcing and e-commerce fulfilment for enhanced efficiency and cost-effectiveness. Founded in 2019 by e-commerce entrepreneurs, the company has experienced remarkable growth driven by the global shift towards online shopping. Today, it is one of China's fastest-growing tech-enabled companies in product sourcing and order fulfilment.

Visit https://www.ecommerce-express.com/ to learn more.