New ecommerce sales data shows steep fall in online sales

ecommerce companies that had been growing at an annual rate of more than 100% were down to just 11% in sales on Wednesday, according to new data from Inc. ecommerce revenue fell 1.5% to $5.8 billion.

That compares with an average annual growth rate of 12% in the previous six months, Amazon said.

e-commerce revenue is now down about 30% from its peak in 2014.

“While the retail industry is still showing great growth, this was a disappointing report, and it’s only the second quarter in a row that we’ve seen declines in our online sales,” Amazon Chief Executive Officer Jeff Bezos said.

“We know that this is a challenging time for retailers and are investing heavily to build the next generation of our businesses.” reported a 10% drop in online book sales to $1.2 billion from $1,300 million.

That was down from $2.4 billion a year earlier.

eBay Inc. said sales fell to $4.2 million from $6.5 million.

eBay’s online shopping business lost more than half its market share, or 4.5%, in the third quarter to $6 billion.

Walmart’s e-Commerce business fell to 14% from 15%.

Walmart said it expects to lose $1 billion in quarterly sales.

The biggest loser was Sears Holdings Corp., which reported a loss of $1 million.

The Chicago-based retailer said it plans to restructure its U.S. online business, including reducing hours, reducing inventory and reducing staffing.

The retailer’s U.K. online sales fell more than 7% in June from a year ago, and its U-K.

unit reported its biggest quarterly loss ever in the U.k. for the first time.

Sears Holdings said it will focus on online sales at home, where it has grown by $1 trillion over the past five years, and in other countries.

“I have no doubt that this will continue to be a challenging environment for our business going forward,” Sears Holdings Chairman and CEO Richard Lampert said.