“The rapid and continuous rise of the internet has given [e-commerce] industry companies the opportunity to reach hundreds of millions of customers without opening even a single store. Faster internet speeds and a surge in mobile device use have contributed to the mainstream adoption of internet shopping, which has contributed to stronger industry operating margins.1” During the five years through 2019, e-commerce sales in the U.S. rose at an annualized rate of 14.1%, bringing 2019 revenue to $546.1 billion.
