This week, we learned that household credit card debt in the United States dropped $34 billion in the second quarter of 2020, the most significant decline in six years. Why? In the same period, Americans took on $63 billion in mortgage debt, which means that from April to June, consumers were buying less, even though many brands in the US saw digital growth. 

Despite e-commerce’s accelerated performance, US retail sales are expected to fall 10.5% by the end of the year, and they’re not the only country facing such a scenario.

Welcome to the Insight commerce weekly roundup where we track how brands are adapting to changes in consumer shopping and spending around the world. Here are some of the top e-commerce trends we’ve spotted over the past seven days.

Data Insights for the Week

The Americas 

The Americas lead the world this week in both pure and retail e-commerce growth. The top five pure players have led the region for the last month, all with over 100% revenue growth YoY. In retail online, only Brazil is under 0% growth. 

Revenue Increase Leaders at a Glance

Americas Revenue Leaders 8 21 20
Top 5 Revenue Increase Leaders in The Americas (week beginning August 17, 2020).

Europe

In Europe, pure e-commerce revenue is down overall with a lot of countries shifting places over the last four weeks. Retail online revenue is also down over the last two weeks, but the majority of countries are above 0% revenue growth YoY.

Revenue Increase Leaders at a Glance

Europe Revenue Leaders 8 21 20
Top 5 Revenue Increase Leaders in Europe (week beginning August 17, 2020).

Asia Pacific 

APAC pure e-commerce revenue growth has been down over the last two weeks, though we’re seeing some upward movement in the past few days. Retail online revenue growth isn’t much better with only the top four countries seeing positive growth. 

Revenue Increase Leaders at a Glance

Apac Revenue Leaders 8 21 20
Top 5 Revenue Increase Leaders in the Asia-Pacific region (week beginning August 17, 2020).

Top Product Trends of This Week

Product Trend 8 21 2020
Product trends (week beginning August 17, 2020).

Key Product Trend Insights: This week, consumers are buying a lot of extra virgin olive oil for at-home cooking. Home office equipment products are the next biggest accelerators with sporting equipment falling a bit. 

Growth Rate of Online Transactions

Everywhere besides the Americas, revenue growth is down as consumers are in a tighter financial spot today than they were a month ago and are spending less.

Following are the growth trends we see this week, but you can explore Regional and Countries trends in more depth.

Trends by Region

Pure e-commerce: For most of the last two weeks, all three regions have been falling in revenue growth. The Americas have dropped the most, though they’re beginning to climb again in the last few days. Europe has dropped off too after a more stable decline than the Americas, while APAC is flat, just above 0%. 

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Pure e-commerce trends by region (week beginning August 17, 2020).

Retail online: APAC retail e-commerce has performed significantly better than the other two regions, with the Americas in second place and on an upward arc. Europe, however, continues sliding downward.

Regional Retail Online 8 21 20
Retail online trends by region (week beginning August 17, 2020).

Trends by Country

Pure e-commerce: Argentina and Puerto Rico have led the Americas with over 200% revenue growth YoY for the last three months. Chile rose 2% in the last two weeks to rejoin them at the top. 

The fastest revenue growers in the last two weeks are Mexico up 40% (+78% YoY), Dominican Republic up 27% (+156% YoY), Brazil up 23% (+30% YoY), and Canada up 11% (finally getting back on track with +6% YoY).

Some countries have fallen in the last two weeks, though still seeing good YoY revenue growth. The U.S. declined 19% (+41% YoY), Peru declined 30% (+101% YoY), and Colombia fell 31% (+51% YoY).

Countries Americas Pure E Com 8 21 20
Pure e-commerce trends by country (the Americas) (week beginning August 17, 2020).

European pure e-commerce revenue growth dropped off a month ago, but much of that ground has been regained. For example, in the last two weeks, Ukraine rose 88% (+62% YoY), the Czech Republic rose 50% (+60% YoY), and Turkey made the most substantial turnaround with +117% (+58% YoY). However, France tops the list for the first time since the pandemic began with +87% revenue growth YoY (+34% in the last two weeks). 

Other pure e-commerce gainers in the last 14 days include Denmark up 23% (+54% YoY), Estonia up 26% (+25% YoY), Lithuania up 33% (+24% YoY), and the United Kingdom up 6% (+33% YoY).

This week Germany’s down 20% for +19% revenue growth YoY, and Belarus, who once led the region, fell 72% in the last two weeks for +21% YoY.

Countries Europe Pure E Com 8 21 20
Pure e-commerce trends by country (Europe) (week beginning August 17, 2020).

Except for the top three countries who have led for a month now, pure e-commerce revenue growth in APAC has been difficult for most of the region in the last two weeks. Following a steady line, Australia fell only 7% to end the week on top at +70% YoY. In the same timeframe, Thailand rose +9% (+57% YoY), South Korea rose 49% (-3% YoY), and China has started to dig its way back to 0%, rising 30% (-49% YoY).

But the most impressive turnarounds of the last two weeks are Japan, gaining 77% (+36% YoY) and Taiwan, up 93% (+31% YoY).

Countries Apac Pure E Com 8 21 20
Pure e-commerce trends by country (APAC) (week beginning August 17, 2020).

Retail online: In the Americas, Ecuador has held the top position with +200% YoY revenue growth for the last three months. In the last two weeks, Mexico dipped 6% below Ecuador but still commands +195% YoY revenue growth. In the same period, Colombia made a stunning +209% climb back to +138% YoY growth, followed by Peru up 27% (+91% YoY), the United States down 6% (+69% YoY), and Canada up 38% (+66% YoY).

Countries Americas Retail Online 8 21 20
Retail online trends by country (the Americas) (week beginning August 17, 2020).

Retail online revenue growth in Europe, on average, has been quite steady the last two weeks. The top two switched places with Turkey up 43% (+175% YoY) and Belgium falling 22% to finish at +131% YoY. The next two countries have consistently seen great revenue growth over the last two weeks with Poland down 1% for +124% YoY and the United Kingdom down 1.3% for +107% YoY. 

Most of the rest of the region is also seeing year-over-year retail e-commerce revenue growth, despite fluctuations in the last two weeks, with Finland down 20% to +90% YoY, Ireland up 0.21% to +60% YoY, Austria up 20% to +57% YoY, France down 7% to +39% YoY (and down from a high of +79% one month ago), Germany down 3% to +36% YoY, the Czech Republic up 22% to +34% YoY, and Estonia falling another 33% to end the week at -58% YoY after tremendous gains back in June and July.

Countries Europe Retail Online 8 21 20
Retail online trends by country (Europe) (week beginning August 17, 2020).

Revenue growth for APAC retail online has been great for the top four countries. The top two countries switched places this week with New Zealand on top, up 86% in the last two weeks to finish the week at +162% YoY revenue growth. Australia fell 15% to finish at +89% YoY.

In the last two weeks, Japan righted its retail e-commerce and rose 31% (+23% YoY), but Vietnam had the biggest two-week gain with +118% to finish the week with +79% YoY growth. 

The rest of APAC is experiencing year-over-year revenue declines. In the last 14 days, Thailand fell 5% (-1% YoY), China fell 19% (-15% YoY), and India rose 0.51% to remain at -47% YoY.

Countries Apac Retail Online 8 21 20
Retail online trends by country (APAC) (week beginning August 17, 2020).