While states across the U.S. are ratcheting up efforts to restart their economies — including retail and service-related businesses — online sales remain robust. But while e-commerce soars, average order values are declining and may reflect the impact of the growing ranks of the unemployed.
In regard to online sales, data from COVID-19 Commerce Insight for the past seven days shows online sales for traditional retailers trending up 54 percent in the U.S., which compares to 96 percent year-over-year revenue growth for pure-play e-commerce sites. For fashion and accessories, online sales in the U.S. are up 65 percent year-over-year for traditional retailers, which compares to 117 percent for pure-play sites.
For local municipalities in the U.S., store closures relating to the COVID-19 pandemic along with recent protests are eating away at much-needed revenue from sales tax receipts. Last week, for example, state lawmakers in North Carolina convened to hash over the impact of store closures this past spring on sales tax revenue. The total shortfall in the budget is about $4 billion, with the largest portion due to lower sales tax receipts.
In some areas, local economies are being impacted in other ways. Shortfalls at the Metropolitan Transit Authority of Harris County in Texas, for example, could total $100 million, officials said last week after reviewing the impact of COVID-19 as well as record-low fuel prices on the Houston-area oil economy. Services are expected to be cut as a result.
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