U.S. online retail sales rose 14.6% Y/Y in May, says comScore. That sits well with Cantor, which...
U.S. online retail sales rose 14.6% Y/Y in May, says comScore. That sits well with Cantor, which is reiterating a Buy on Amazon (AMZN) and eBay (EBAY). Though May's rate is down from April 16.9%, it's above Q1 13.3%. Mobile activity is providing a lift - comScore estimates mobile made up 48% of time spent on U.S. retail e-commerce activity in Q1 (34% from smartphones, 14% from tablets). Meanwhile, eBay CEO John Donahoe predicts China will give PayPal a license, thus allowing it to take on Alibaba's dominant AliPay service. eBay currently handles $6B/year worth of Chinese transactions, much of it from local merchants selling abroad. Analysys predicts the Chinese online payments market will soon top CNY1T ($163B).
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