For all Donald Trump’s talk about boosting the U.S. economy, the president-elect has already had an adverse effect on the booming e-commerce sector.
Per an Adobe Digital Insights report released Thursday, retailers lost nearly $1 billion worth of online sales in the first 14 days of November, with the biggest drop happening in the aftermath of Trump’s Nov. 8 victory, when sales growth trickled to 1.3% compared to the expected 7.8% surge.
“Consumers are distracted,” Becky Tasker, a managing analyst at Adobe Digital Insights, told Glossy. “They’re following public events and they haven’t quite flipped the switch to holiday shopping.”
Read more at Sourcing Journal.