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Internet Sales Sizzle In First Quarter
Retail sales online increase by nearly 24% over the previous year's first quarter, according to the Commerce Department.
First quarter Internet retails sales totaled $19.8 billion USD, compared to last year's $16 billion for the same period. The increase also represents a rise from the fourth quarter of last year, where sales were $18.6 billion.
Internet sales accounted for 2.2% of the total retail sales in the first quarter, adjusted for seasonal and holiday variations but not price changes.
According to a Legg Mason Wood Walker analyst, jewelry sales online have increased considerably, as consumers grow more comfortable ordering high-ticket items like necklaces and earrings via the Internet.
Internet sales have been increasing at a rate of about 20 to 25 percent, noted the analyst, Scott Devitt.
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David Utter
