E-Commerce Sales Up Sharply in 4th Quarter

U.S. retail sales over the Internet and other electronic networks surged in the fourth quarter of 2003, making up almost 2% of total retail sales, the Commerce Department said.

E-commerce sales rose 29.7% in the fourth quarter over the previous quarter to $17.2 billion. Overall retail sales rose 5.2% in the fourth quarter.

The share of total retail sales accounted for by e-commerce reached its highest level since Commerce began tracking it in 1999 -- 1.9%, up from 1.5% in the third quarter.