Online shopping overtakes a major part of retail for the first time ever

Online shopping led by Amazon hit a new milestone in February. The total market share of “non-store,” or online U.S. retail sales was higher than general merchandise sales for the first time in history, according to a report from the Commerce Department this week.
“The days of the internet and online shopping being ‘just a fad’ have come a long way over the years, but February’s Retail Sales report (released Monday) highlighted another of many major milestones that the growth of online shopping has reached over the years,” said Paul Hickey, co-founder or Bespoke Investment Group, which reported the statistic in a note to clients Tuesday. Read more…