The return of (IRL) retail therapy… While you ditch front-porch packages for fitting rooms and food courts, online retailers are being left in the dust. In yesterday’s big selloff, shares of Shopify sank 15% after the popular ecomm platform saw sales slow for the fourth straight quarter.
Caribbean cruise > cyber sales... In the past two years, nearly a fifth of every dollar spent in the US came from online orders. Yet with consumers returning to their 2019 spending habits — on concerts, vacays, and Sunday brunch — the boom in e-buying is losing momentum. US ecommerce sales have dropped 3X compared to 2020 levels. That’s showing up in the bottom line of some of the biggest pandemic winners:
The Great Normalization is here... Ecommerce sites benefited from a huge pull-forward boost in demand during the pandemic, fueled by stimmy checks and boredom. As Visa’s and Mastercard’s earnings showed, consumers are still opening their wallets — they just have new priorities. For platforms like Shopify, it means adjusting expectations for the new new normal of more balanced spending.