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BizReport : Ecommerce archives : August 11, 2014

Euclid: Strong July spend bodes well for BTS, holiday shopping

A strong July for online shoppers is pointing to a strong second half of 2014, according to retail analytics leader Euclid. their data shows shopper conversions and the time spent in-store increased for the month, even though overall traffic saw a slight decline. Here are the details:

by Kristina Knight

Euclid's latest retail analysis indicates a strong retail season for back to school and holiday retailers. According to their data shopper traffic declined by 6% for the month, but although there were fewer customer in stores, overall conversions increased by about 1% and time spent in-store increased nearly 20%.

The best shopping day for the month was July 27; the worst shopping day was July 11.

Meanwhile, Mastercard has looked into their data for the month and the credit card company finds overall US retail spending increased about 4% (July, Year over Year); it is the largest spending increase since October of 2012.

"By and large, the U.S. economy has shown signs of positive growth over the last few months, especially as weather in most of the country improved," said Sarah Quinlan, Senior Vice President, Market Insights for MasterCard Advisors. "Positive economic statistics such as new job hiring are giving consumers more confidence that the recovery is a reality. This confidence is seen in people taking vacations and dining out. They're choosing to truly 'experience' the rebound."

Other interesting findings from the Mastercard SpendingPulse report include:

• US consumers are spending more on 'experiences' - like fancy dinners out, entertainment and travel
• Lodging, airline and restaurant purchases led the way for July spending
• Auto, grocery and luxury (minus jewelry) were at the bottom of the spending list

Image via Shutterstock

Tags: ecommerce, Euclid, MasterCard SpendingPulse, online shopping, retail trends, shopping trends

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