- E-commerce growth for the week ended August 1 rose 71% Y/Y, per aggregated Bank of America credit and debit card data. The mark is consistent with the Q3 growth being seen in the prior few weeks.
- Excluding grocery and restaurant spending, e-commerce sales were up 59% for the week ended August 1 vs. the peak of +75% for the week ended May 23.
- Electronics e-commerce growth was up 101% for the latest week and sporting goods products saw a 94% jump. Best Buy (NYSE:BBY) and Dick's Sporting Goods (NYSE:DKS) are both part of that action.
- Online penetration of total retail sales hasn't fallen that far off the peak, per BofA's chart below.
- Related stocks: Amazon (NASDAQ:AMZN), Wayfair (NYSE:W), Shopify (NYSE:SHOP), Etsy (NASDAQ:ETSY), Overstock.com, Farfetch (NYSE:FTCH) and Chewy (NYSE:CHWY), eBay (NASDAQ:EBAY), Fiverr (NYSE:FVRR), Carvana (NYSE:CVNA) and Blue Apron (NYSE:APRN)
- Related ETFs: IBUY, IPAY, EBIZ, ONLN, CLIX.
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