US Retail E-Commerce Growth Softens in May, June
Total US online retail sales (excluding travel) reached approximately $31 billion in Q2, and though year-over-year e-commerce growth rebounded slightly in April (up 15%) after a soft March, growth slowed somewhat in May (up 12%) and June (up 11%), according to comScore.
“With the first round of the government’s economic stimulus checks having been mailed in early May, one would have hoped they would have bolstered online spending in May and June,” said comScore Chairman Gian Fulgoni.
“However, recent comScore research reveals that fully two-thirds of consumers said they had not planned to spend their stimulus checks and rather intended to use the cash to pay off debt or put the money into savings…. [I]t’s likely the impact of the stimulus may have been felt more offline, where a variety of merchants made it particularly easy for consumers to cash their checks at retail stores.”
Hot Categories
Videogames, Consoles & Accessories remains one of a handful of high-performing online retail categories, rising 73% in Q2 vs. the year-earlier quarter on the strength of consoles like the Nintendo Wii.
Furniture, Appliances & Equipment (up 65%) was another top performer, while Home & Garden (up 23%), Event Tickets (up 22%), and Sport & Fitness (up 21%) also performed significantly better than average.
But some categories, including Flowers, Greetings & Miscellaneous Gifts, Jewelry & Watches, Computers, Peripherals & PDAs, Toys & Hobbies, and Music, Movies & Videos, recorded year-over-year declines.
Note: comScore CEO Magid Abraham and Chairman Gian Fulgoni will discuss the e-commerce data during the second installment of their quarterly webinar series, State of the US Online Retail Economy, on August 6, at 3 PM, ET.