E-Commerce Share = Gains Continue @ 15% of Retail vs. 14% Y/Y E-Commerce as % of Retail Sales, USA 16% e r ha S e erc m 8% Com - E 0% Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 20182019 Source: USA Census Bureau, St. Louis Federal Reserve FRED database. Note: 15% = Annualized share. Penetration calculated by dividing E-Commerce sales by “Core” Retail Sales (excluding food services, motor vehicles / auto parts, gas stations & fuel). All figures are seasonally adjusted. Internet Trends Per US Census Bureau, E-Commerce is ~10% of total retails sales in Q1:19, including out-of-scope channels such as gas stations, fuel dealers, etc. 20 2019