U.S. e-commerce sales grew 10% in July, with low-priced orders growing fastest

It was learned that on August 14, according to foreign media reports, according to the latest Signifyd e-commerce pulse data, US e-commerce sales increased by 10% year-on-year in July.

Data shows that US e-commerce sales increased by 10% year-on-year in July , mainly driven by discounts and consumers buying low-priced goods. The fastest growth was in orders below $100 (17.7%), while the number of orders above $500 was almost the same as the same period last year (1.5%). Compared with July 2023, the average order value fell by 4% and the shopping cart size (that is, the number of items per order) fell by 9%.

Image source: Signifyd

By category, online sales of groceries increased by 27% year-on-year, fashion apparel increased by 12%, leisure and outdoor products increased by 5%, and luxury goods also increased slightly by 1%. At the same time, online sales of electronic products were flat compared with the same period last year. Some categories experienced declines, including automotive parts (down 1%), household goods (down 8%) and beauty and cosmetics (down 9%).

Signifyd CEO Raj Ramanand said that July's performance was not surprising given recent macroeconomic trends. Online retail remains healthy, but economic uncertainty and reduced savings have put pressure on consumers. The increase in overall spending while the average order value and the reduction in shopping cart size indicate that consumers are reducing their consumption levels and turning to lower-cost goods and alternatives .

Author ✎ Rayna/

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