As reported by ABC News, “U.S. Retail saw a 17.7% increase from April to May” of this year. Although this is only a partial rebound for the sector, considering the deep economic recession caused by the coronavirus (purchases are still down 6.1% YoY), it’s a level of recovery that many models did not predict, at least, in such a short amount of time.
As stated in the article, May's rebound was more than likely a byproduct of the $3 trillion in rescue money the federal government dispersed to companies and households throughout the nation. Analysts warn that this aid may have spurred false hope for growth, and that true economic recovery will only be determined over the next several months.
We’re over halfway through June, and online retail revenue has been steady since May. For now, we’ll have to keep an eye on future consumer shopping trends to see if the retail growth sticks, or if it tapers off.
➡️ Learn how retailers are driving business results post-pandemic by using a digital-first strategy.