eCommerce Growth Reported Amid Ailing Economy
According to the SpendingPulse May Retail Report released last week by MasterCard Advisors, eCommerce sales continue with double digit YoY growth for the eighth consecutive month providing hope in an otherwise sluggish economy.
According to a recent SpendingPulse May Retail Report release last week by MasterCard Advisors, eCommerce sales in May 2010 showed continued growth, far surpassing the growth rate in brick and mortar sales. May was the 8th consecutive month of double digit year-over-year growth for eCommerce sales, with May 2010 sales increasing 13.7% over May 2009. According to the SpendingPulse report, the best performing eCommerce sub-categories were Children’s Apparel and Family Apparel, growing 30.4% and 26.2% year over year, respectively.
Additional commentary from Michael McNamara, Vice President, Research and Analysis MasterCard Advisors, SpendingPluse
In comparison, U.S. retail sales overall are expected to have also experienced consistent growth with eight consecutive months of gains through May 2010, attributed, in part, to consumers taking some comfort in a gradually improving US job market. US retail sales overall are estimated to have climbed 0.2 percent May following a 0.4 percent rise in April 2010, according to median estimates of economists polled by Reuters. The retails sales growth overall lag the nearly 14% growth rate enjoyed by the eCommerce sector for the same period.