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 Amazon.com 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.”
Amazon.co.uk 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.