“Further, we believe the resultant increase in Prime eligible product selection will lead to greater site conversion, increased annual spend per customer, and ultimately, higher levels of gross merchandise value for Amazon,” Sheridan added.
The consumer sector was strengthening on Tuesday, despite negative data on U.S. retail sales. The Commerce Department stated that U.S. retail sales dipped 0.3% last month, the weakest reading since February, and May retail sales were downwardly revised as well, Reuters reports.
Consumer Discretionary Select Sector SPDR
For more information on the discretionary sector, visit our consumer discretionary category.
Max Chen contributed to this article.