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June 22, 2020

Retail on the rebound?

Shopping

E-commerce sales increased 92.7% year-over-year in May, consumer spending appears to be normalizing in a number of markets, and furniture sales grew 7.5 percent year-over-year in May, the strongest growth rate for the sector since August 2018, according to a report release recently.

The report, Mastercard SpendingPulse, tracks overall retail sales across all payment types including cash and check. The report released earlier this month estimated $53 Billion in additional U.S. E-commerce sales as pandemic drives consumers online in April and May.

Check out the report here.

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