US e-commerce doubles its share in total retail sales – Mastercard

The report explains how the pandemic affected the growth of online shopping

US e-commerce

US e-commerce doubles its share in total retail sales – Mastercard. Source: shutterstock.com

Mastercard has found that US e-commerce made up 22% of all retail sales in April and May, compared to 11% in 2019. The Americans are estimated to have spent more money online over that period than the last 12 Cyber Mondays combined.

Along with that, the report reveals that more than $53 billion of extra spending occurred on e-commerce channels in April-May.

The Americans also started paying more attention to home improvements during the lockdown. In May, US hardware sales across online and in-store were up 36.2% compared to 2019. Besides, furniture sales rose 7.5% year-over-year in May, the strongest growth rate for the sector since August 2018.

As to the demand for groceries, it remained elevated, with sales up 9.2% year-over-year in May across online and in-store.

The shift to digital ways of shopping has been undeniable, while everything else has been incredibly unpredictable. The question is what changes will stick around for the long-term. Investing in your home and shopping local are two recent trends. Heightened demand for touchless services is another, which could have tremendous impact on what stores actually look like and how they blend their online and brick and mortar footprints
Steve Sadove, Mastercard senior advisor and former CEO of Saks

We’ve reported that the e-commerce market in Singapore is estimated to reach $9.5 billion in 2020. For comparison, the country reached $6.2 billion a year before.

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