While certain retail stores took a hit with lower-than-expected back-to-school spending this season, e-commerce businesses saw more favorable results, according to the latest SpendingPulse report by Purchase-based MasterCard Advisors.
The report showed a spending shift from bricks-and-mortar shops to websites in key back-to-school shopping categories including electronics, department stores and apparel throughout August. All categories showed a double-digit increase with the exception of children”™s apparel, which dipped 0.2 percent in online sales compared to a 2.4 percent increase for in-store sales.
“Last month, we talked about how softness in categories such as children”™s apparel was an indication that this year”™s back-to-school season would be rather subdued,” said Sarah Quinlan, MasterCard Advisors’s senior vice president of market insights. “This month”™s SpendingPulse report clearly reflects that consumers are still cutting back on spending where they can and seeking the best value.”
Online family apparel consumers “found the best deals on the web,” Quinlan added. E-commerce retailers posted their best sales numbers since April while online children”™s clothing retailers saw their first year-over-year loss since January 2012.
Fewer consumers are traveling to stores to buy their products. The SpendingPulse report showed as gasoline consumption dropped, retail sales simultaneously fell by 1 percent.
