Ecommerce firms saw gross sales growing 12% to 15% by value in the first three months of 2024 compared to a year ago, market research data showed. This was slower than the 20% year-on-year growth seen in the first quarter of 2023.
Volume growth critical: The decline was indicative of softer demand as order volumes shrunk, even as the uptake of expensive items helped keep up overall sales. However, month-on-month sales are improving, fueling hope that with the onset of summer, increased demand for certain categories could bolster full-year sales. Read more about the study…