• The Wall Street Journal reports that "the Commerce Department on Tuesday reported that e-commerce sales - from internet retailers such as Amazon.com and traditional retailers such as Walmart - were up 39% from a year earlier in the first quarter. That was the swiftest growth since the second quarter of last year, when sales were up 44%. Before the Covid-19 crisis, e-commerce sales were growing at about a 15% rate."
However, the Journal writes, "There are signs that people’s zeal for shopping online has begun to fray. In its earnings report Tuesday, Walmart said that its e-commerce sales were up 37% in its fiscal first quarter ended April 30 from a year earlier. That is a big move, but short of the 69% e-commerce growth it registered in the fourth quarter. Also on Tuesday, Home Depot said that its digital sales were up 27% in its fiscal first quarter ended May 2 from a year earlier, which compared with an 83% gain in the fourth quarter.
"To a degree, those slower growth rates reflect the fact that the comparison periods include April 2020, when the Covid-19 crisis first set off the surge in online shopping. To compensate for this, both Walmart and Home Depot highlighted how much both their e-commerce sales and their overall sales grew over the past two years."