Retail is falling this week, especially in the US as new coronavirus cases are on the rise and states have implemented harsher lockdowns.
Rise in COVID cases have also been reported in India, Brazil, and Australia..
Welcome to the CCInsight project where we track how COVID-19 impacts consumer spending around the world. Here are some of the top e-commerce trends we’ve spotted over the past seven days.
Online Retail Growth in the US Slumps to Lowest Levels Since April
Down to the lowest level since the start of the pandemic, the US online retail industry dropped to 51%, and the number of online orders dropped to 52%.
Revenue from retail online e-commerce purchases in the US (CCInsight data).
Alex Timlin, senior vice president at Emarsys, said: “While online retail in the US is doing comparatively better than this time last year, the sudden drop in revenue and order numbers indicates that US consumers aren’t quite confident yet to go and splash the cash. There are a number of reasons why we’re seeing this trend, but the most likely is the fact that the US needs a new relief package from the government to stimulate demand.”
COVID-19 Resurgence Nullifies Early Summer Recovery for Retail Department Stores
Although department stores JCPenney, Dillard’s, and Macy’s noticed that foot traffic increased in May and June, visits dropped in July due to a resurgence of coronavirus cases in the US.
This is reflected in the latest CCInsights data as the US is down dramatically. Many states were beginning to open, but stepped back and reverted to previous lockdown restrictions, which may be a cause of the drop in retail foot traffic.
Data Insights for the Week
The top five pure players in the Americas are performing better than European and APAC counterparts. Retail online is strong with Europe and the Americas.
Orders Increase Leaders at a Glance
As a whole, Europe’s pure e-commerce is healthy this week. Out of the 30 countries we track in the region, only six are below 0% and for online retail 10 countries are below 0%, though there has been some decline overall in the last two weeks. Europe is still stronger than the Americas and APAC, with a majority of the latter region’s countries experiencing decline.
Revenue Increase Leaders at a Glance
At the back of the pack is APAC, with pure player revenue growth declining over the last two weeks, but retail e-commerce is growing for most countries.
Revenue Increase Leaders at a Glance
Top Product Trends of This Week
Key Product Trend Insights: Food tops the list this week with olive oil at +458% YoY uplift and chocolate spread up +205% YoY.
Growth Rate of Online Transactions
Trends by Region
Pure e-commerce: Orders growth YoY for pure e-commerce is strongest in the Americas, followed by Europe and a faltering APAC.
Retail online: APAC ends this week as the leader, though much of this can be attributed to the explosive growth of Japan, Vietnam, and South Korea in the last two weeks. Europe is stronger than the Americas, but both are on a downward slope.
Trends by Country
Pure e-commerce: Many countries in the Americas have seen orders decrease in the last two weeks. The US fell -71% in the last two week, but still remains positive at 62% YoY growth. Argentina and Puerto Rico have led the region for many weeks now with over 200% orders growth YoY.
The star this week is Brazil, rising +41% in the last two weeks alone. The Dominican Republic (+21% in the last two weeks) is the only other country with positive growth in the past two weeks.
In Europe, the top countries with major pure e-commerce positive growth in the past two weeks are Finland at +42% YoY (+51% in the last two weeks), France +34% YoY (+51% in the last two weeks), Belgium +51% YoY (+31% in the past two weeks), and Hungary +15% (+24% in the last two weeks).
Pure e-commerce revenue growth in APAC is down, though Thailand +149% (up +59% in the last two weeks) and China -63.63% (+14% in the past two weeks) had positive growth in the last two weeks.
Thailand sits on top, while Australia +77% (-13% in the last two weeks) is second. Japan +36% is the only other country that has positive YoY orders growth.
Retail online: In the Americas, Ecuador is the only country in the region seeing +200% YoY revenue growth, a rate that the country has kept for the last few months. Mexico is at +172% YoY and Columbia +141% YoY is up +21% in the past two weeks.
Most of the other countries in the Americas are taking hits to revenue as they’re down in the past two weeks, especially the United States +53% (down -65% in the past two weeks).
In Europe, the top countries with major positive growth in the past two weeks are Finland at +115% (+120% in the last two weeks), Italy at +81% (+81% in the last two weeks), France +29% (+30% in the past two weeks), and Ireland +33% (+28% in the last two weeks).
Belgium, the United Kingdom, and Poland continue to lead, each at +200% YoY growth.
Pure e-commerce revenue growth in APAC is up for each country. South Korea +17% YoY is up +56% in the past two weeks. Vietnam (-11.39% YoY) is up +43% in the past two weeks. Japan (+27% YoY growth) is up 28% in the past two weeks. New Zealand is up 30% in the past two weeks (+15% YoY growth).