US e-commerce spending reached $34.7 bln by Q3 2007

E-commerce revenue has grown from $7.4 bln at the middle of 2000 to $34.7 bln in Q3 2007, up from $29.1 bln in Q3 2006, and $24.1 bln Q3 2005, according to Pew Internet. In 2007 e-commerce accounts for 3.4% of total retail sales in the US, up from 0.8% in early 2000. YTY growth in e-commerce was 19.3% in Q3 2007, comparable to the growth in 2006 but slower than the (roughly) 40% growth rates in 2001 and 2002. E-commerce revenues, however, have grown by nearly fivefold (in comparisons of quarterly e-commerce sales) from $7.4 bln in mid-2000 to $34.7 bln in mid-2007.