New data from the Commerce Department indicates that online sales during the 4th quarter of 2009 climbed 14.4% over the 4th quarter of 2008. This is small growth compared to the torrid growth of online sales during prior years but it is significantly higher than overall retail sales.
Internet Retailersays overall retail sales grew just 2.1% in the 4th quarter of 2009. Online sales accounted for 3.8% of total retail sales in the 4th quarter.
Analysts are expecting retail sales to grow slightly this year. However, gas prices could soar this summer and offset some of the expected growth.
