Daily Data Dive

PYMNTS Daily Data Dive: US eCommerce Grows But Retail Needs Support

omnichannel-omnicommerce-paypal-vantiv

ECommerce sales were better than expected in Q2 but dipped in the third quarter, according to Internet Retailer. Matthew Shay, president and CEO of the NRF, cited easing wage stagnation, increasing employment and consumer confidence as factors influencing eCommerce growth. Earlier projections had predicted slower growth for 2016.

Online sales had their biggest jump in Q2 year over year for two years. Non-store eCommerce sales for the three-month period June to August showed an increase of almost 12 percent compared to the previous year, according to the Monthly Retail Trade Report. Shay sees even better growth in the future but suggested that the government stop proposing rules and regulations that hinder capital investment and find ways to help retailers increase income and job stability for employees.

Here are the numbers:

14.1% | The growth in sales in July; sales increased by 14.2 percent in June, according to Internet Retailer

11.9% |The increase in non-store sales for June through August compared to last year

10.9% | The growth in sales for Q3; for Q2, growth in sales was 15.8 percent

6–9% | The expected growth rate for non-store sales by 2017

3.1% | The forecasted economic growth rate for 2016 by the National Retail Foundation

——————————–

Featured PYMNTS Study:

More than 63 percent of merchant service providers (MSPs) want to overhaul their core payment processing systems so they can up their value-added services (VAS) game. It’s tough, though, since many of these systems date back to the pre-digital era. In the January 2020 Optimizing Merchant Services Playbook, PYMNTS unpacks what 200 MSPs say is key to delivering the VAS agenda that is critical to their success.

Click to comment

TRENDING RIGHT NOW