“Retail sales for the first half of 2018 were up 4.8 percent from a year earlier, NRF said. In the most recent three-months moving average, they have climbed 4.4 percent year over year,” according to CNBC.
Last month, ProShares introduced the ProShares Online Retail ETF (NYSEArca: ONLN). Looking ahead, analysts expect the growth of online retail to continue. About 10% of global retail sales are currently conducted online, which leaves an e-commerce-centric strategy further room for growth. Recent data also indicated that online sales growth could double by 2030.
“Amazon’s annual Prime Day in July is believed to have pulled the back-to-school shopping season even earlier, prompting retailers like Target, J.C. Penney and Kohl’s to roll out deals sooner in the summer. The e-commerce giant said this year’s Prime Day was its largest yet,” according to CNBC.
For more information on the consumer sector, visit our consumer discretionary category.