ChannelAdvisor (ECOM +6.9%) clients saw a 34.4% Y/Y June increase in their Amazon (AMZN +4.5%) same-store sales. That growth rate is well above May's 28.1%, and is the highest rate seen in the last 12 months.
Client eBay (EBAY +2.5%) same-store sales grew 12.3%. That's a little better than May's 11.5%, and suggests the toll taken by a data breach and Google algorithm changes might be abating a bit. Auctions -19%, fixed-price +18.4%, Motors +10.4%.
A positive for Google (GOOG +0.9%): Search ad-driven same-store sales rose 20.4%, a big improvement from May's 11.5% and the 2nd-highest level seen in the last 12 months. Cost per click (ad prices) rose 5% to $0.48, conversion rates 6% to 2.81%, and average order value (AOV) 7% to $137.02.
ChannelAdvisor notes AOV has historically "been a good indicator of consumer sentiment," and that the appeal of Google AdWords for marketing costlier items remains strong.
Meanwhile, Google's product listing ads (PLAs) keep gaining traction as a vehicle for selling cheaper goods. Their same-store sales rose 47.8%, sharply above May's 21.4%. AOV fell 8.7%, but conversion rates rose 10.5%.
Deutsche has upgraded ChannelAdvisor to Buy. eBay reports on July 16, Google on the 17th, and Amazon on the 24th.