E-commerce Sales Spiked Nearly 93% in May
Retail Dive | June 15, 2020
U.S. e-commerce sales jumped by 92.7% in May, according to a new SpendingPulse report from Mastercard. In April and May, consumers spent more than $53 billion via e-commerce in the U.S.
While some nonessential retailers like GameStop have seen an e-commerce boost during the pandemic, others, like Zara, are rethinking their store footprint and closing locations in order to focus on digital sales.
Mastercard's research found that e-commerce sales in April and May comprised 22% of all retail sales, double last year's 11%. A recent eMarketer projection anticipates that U.S. retail sales will drop by 10.5% in 2020 overall, but e-commerce sales could see an 18% bump.
"The shift to digital ways of shopping has been undeniable, while everything else has been incredibly unpredictable," Steve Sadove, Mastercard senior advisor, said in a statement. "The question is what changes will stick around for the long-term."