The growth rate of US e-commerce hit a record high in July, and three major categories became "hot items"!

Recently, MasterCard Spending Pulse released the latest research data on the US market in July.

After several months of weakness, US e-commerce sales in July saw a significant increase, up 11.7% year-on-year, with demand for multiple categories rising. Offline sales increased by 11.1% year-on-year, and total retail sales in the US increased by 9% year-on-year.

Due to high inflation, the prices of necessities such as food and energy in the United States have risen accordingly, but the demand for these necessities has not decreased. High demand and high prices have driven up U.S. consumer spending in July.

The survey found that groceries, clothing and jewelry products are very popular among American consumers and sales continue to grow.

Grocery sales increased 16.8% in July compared to the same period last year , due to rising food prices .

Apparel and jewelry achieved strong growth driven by high demand, with apparel sales increasing by 16.6% and jewelry sales increasing by 18.6%.

The July Prime Day promotion pushed the US e-commerce market to achieve a breakthrough growth in sales. The US e-commerce market has achieved double-digit growth for the first time since December last year, an increase of 11.7% compared with the same period last year. Compared with the pre-epidemic period (July 2019), sales increased by 98.5%, almost doubling.

However, it should be noted that since 2022, the U.S. real estate market has cooled significantly, affecting U.S. consumers' consumption of home-related products, and the sales growth of home products has begun to slow down.

Michelle Meyer, chief economist for the United States at Mastercard Economics, said that due to inflation, the prices of daily necessities such as food and energy continued to rise, but American consumers still had strong purchasing power and spending on related products remained strong.

Steve Sadove, senior consultant at Mastercard , said the latest consumer trends show that American consumers will choose to shop across channels and are more inclined to buy affordable goods in order to find suitable products.

Currently, major retailers and sellers are facing the dual challenges of overstocking and supply chain congestion. In the current market environment, promotional activities are likely to continue to be an important strategy for retailers. At the same time, in order to expand the market and meet the diverse needs of consumers, retailers and sellers can carry out multi-channel and multi-platform business layout.

US e-commerce market

Hot selling categories