Father’s Day Spending to Reach $17B, Ecommerce Sales Surged 93% in May and Walmart’s Self-Driving Partner Changing Ecommerce Economics
Father’s Day Spending May Reach $17 Billion
Despite more states lifting stay-at-home directives, 58% of consumers plan to celebrate Father’s Day virtually this weekend as COVID-19 is still a threat. In addition, 77% believe the holiday is important to celebrate given the pandemic. Total spending for Father’s Day could reach $17 billion, beating out last year’s estimated total of $15.96 billion. According to research by the National Retail Federation, 25% of consumers plan to give personal care items, 21% plan to give tools or appliances and 19% plan to gift automotive accessories.
What stood out to us? Personal care items? Tools people! Tools!
Ecommerce Sales Surged 93% in May
United States ecommerce sales spiked 92.7% in May, according to a new SpendingPulse report from Mastercard. In May and April, consumers spent over $53 billion via ecommerce in the United States. Ecommerce sales in April and May comprised 22% of all retail sales, which is double last year’s 11%. A recent projection anticipates that U.S. retail sales will drop by 10.5% in 2020, but ecommerce sales could see an 18% growth. "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. 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."
What stood out to us? Nothing to see here. Move along.
Grainger Addresses Shortage of COVID-19 Safety Products
First came the dash to equip U.S. hospitals with protective gear when COVID-19 swept the country, now companies are scrambling to get a limited supply of masks, gloves and disinfectants they need to reopen their doors. For businesses already struggling from the pandemic, this means more constraints on time and costs. The shortages also present an issue as America’s economy restarts: If companies are not able to get enough supplies, more people are at risk for the virus. Inventories remain tight and short-term price spikes are expected for high-demand items. “Things are still challenged now in a number of categories,” D.G. Macpherson, CEO of W.W. Grainger Inc. said in an interview. “It’s getting better, I would say. But there’s a long way to go.”
What stood out to us? www.etsy.com.
In the headlines
- Time to shop: Etsy unveils AR shopping tool for wall art.
- eBay’s cyberstalking: Former eBay executives cyberstalk and harass ecommerce bloggers.
- Dashing deal: DoorDash confirms $400M raise with IPO timing still unclear.
Before you go
Walmart’s Black executives have lost ground since 5 years ago.
Amazon’s new social distancing software at US warehouses.
Coronavirus impacts fulfillment and delivery of large products.
Dose data of the week
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