Rising interest rates, inflation force consumers to pull back in online shopping [FOX Business Network]
eBay Inc. (EBAY)
Last ebay inc. earnings: 4/29 04:15 pm
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Source: FOX Business Network
Consumers reined in their online shopping in April due to "rising interest rates and persistent inflation," according to a new report. Consumers collectively spent $77.8 billion online in April, down from the over $83 billion spent online in March, according to e-commerce data from the Adobe Digital Price Index (DPI). EBAY SHARES FALL ON QUARTERLY LOSS, LOWERED OUTLOOK Online spending nationwide grew to double-digits in January when consumers doled out $71 billion, a 12.2% increase compared with the same time last year. In February, consumers spent $67 billion, a 15.5% year-over-year increase. April spending, by comparison, grew 4.5% compared with a year ago. Woman online shopping (iStock / iStock) Patrick Brown, vice president of growth marketing and insights at Adobe, said in a statement that spending in April was driven by "durable demand for e-commerce." However, "as the cost of borrowing and economic uncertainty rises for consumers, we are beginning to see the earl
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EBAY
Earnings
- 2/27/24 - Beat
EBAY
Sec Filings
- 4/17/24 - Form 4
- 4/17/24 - Form 4
- 4/3/24 - Form 4
- EBAY's page on the SEC website