GET TRAKWELL

Mobile Sales Surpass Desktop Purchases

As the shift to mobile shopping accelerates, e-commerce is poised to play a pivotal role in driving sales through the holiday season and beyond, with mobile devices expected to outpace desktop purchases for the first time.

Join us as we explore the key trends that contributed to July’s retail sales growth and what lies ahead.

Today's Rundown

  • E-commerce bump: E-commerce, now accounting for 15.2% of retail sales, is the driving force behind continued retail growth despite a slowdown in overall sales
  • The Future Of Retail: Trends to watch in the second half of 2024.
  • OUT NOW: Sign up to receive the Q2 2024 Home Furnishing Benchmark Report.
  •  

Market Watch

Furniture Industry

Mattress Industry

Retail Sales Continue to Grow in July Despite Economic Pressures

According to the U.S. Census Bureau, overall retail sales continued to rise in July, reflecting the resilience of consumer spending even as economic growth moderates. National Retail Federation (NRF) Chief Economist Jack Kleinhenz noted that back-to-school shopping and special deals contributed to the midsummer boost. Despite pressures on growth and a cooling labor force, consumer spending remains strong, supporting economic expansion.
 
Key Highlights:
  • Overall retail sales in July increased by 1% month over month and 2.7% year over year.
  • Core retail sales, excluding automobiles, gasoline, and restaurants, rose by 0.4% month over month and 5.2% year over year.
  • NRF’s forecast for 2024 predicts retail sales growth between 2.5% and 3.5% over 2023.
Looking ahead, the continued strength in consumer spending throughout July sets a positive tone for the rest of the year. The boost from back-to-school shopping is expected to carry momentum into the fall, and as households benefit from falling retail prices, they may continue to spend cautiously but steadily.
 
With the holiday season on the horizon, analyst expect a strong finish to the year, provided economic conditions remain stable and consumers maintain confidence in the economy. The NRF’s forecast aligns with these trends, predicting a solid year-end performance that will likely see retail sales growth within the projected range.

Mobile Device Takeover

The era of desktop ecommerce is fading, with mobile devices rapidly becoming the preferred channel for online shopping, according to the latest Adobe Analytics data.
 
Consistent double-digit growth in mobile spending this year suggests a significant shift, with Adobe forecasting that mobile sales will surpass desktop purchases during the upcoming holiday season and into 2025.
 
Key Insights:
  • Mobile devices are expected to drive 53% of ecommerce sales this holiday season, up from an average of 47.7% during the first seven months of the year, totaling $280.4 billion—a 10.2% increase over the previous year.
  • Since 2020, mobile’s share of ecommerce spending has steadily increased, from 40% during the 2020 holiday season to the current projections.
  • Shopify reports that mobile commerce is quickly becoming the go-to shopping channel, with brands leveraging mobile apps and social media to boost sales. Salesforce also highlights a 46% year-over-year increase in mobile wallet usage, making mobile checkouts smoother and contributing to the rise in mobile sales.
Mobile shopping has particularly surged in categories like groceries, cosmetics, and apparel. In July, mobile accounted for 68.2% of online grocery sales, 77% in personal care (including cosmetics), and 60.8% in apparel.
 
Despite this growth, categories involving larger, more expensive items like electronics and home improvement have been slower to transition to mobile, with mobile shares of 21.3% and 33.3% respectively in July.

Retail Snippets

E-commerce bump: E-commerce, now accounting for 15.2% of retail sales, is the driving force behind continued retail growth despite a slowdown in overall sales.
 
Mattress Revolution: Mattress Firm and DoorDash revolutionize mattress buying with fast and convenient delivery.

New Competition: Best Buy introduces AI-Powered delivery tracking, signaling shift in retail logistics.

Random Irrelevance

Northern Lights: The northern lights could be visible in these regions of the U.S. this week. Here’s where.

 Worlds Oldest: Woman believed to be world’s oldest person dies at age 117.

Gold Rush: The price of gold is at a record high. Here’s why.

Join the thousands of brick-and-mortar business pros who count on Retail Traffic Trends to get the latest data and insights on how to build a better business and see what’s around the corner.​

​Subscribe to our Retail Traffic Trends Newsletter for free today and stay tuned for new essential insights every Thursday.

Enter your email address to subscribe to Retail Traffic Trends.​

We’re committed to your privacy. Trakwell uses the information you provide to us to contact you about our relevant content, products, and services. You may unsubscribe from these communications at any time. For more information, check out our Privacy Policy.

More Insights