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Illustration: Rebecca Zisser/Axios

E-commerce sales are still way up compared to a year ago in the U.S., but growth moderated in July as more traditional stores reopened, according to fresh data from Adobe.

Why it matters: Undoubtedly some of the shifts to online shopping will be permanent, but the numbers suggest that consumers want to do a certain amount of their buying in-person.

  • U.S. online shopping in July totaled $66.3 billion, according to the Adobe Digital Economy Index.
  • That's up 55% from a year ago — but lower than the bump in June, when spending was $73.2 billion, up 76% year-over-year.

By the numbers: The pandemic has resulted in $94 billion in extra spending online since March, Adobe found.

  • At current growth levels, 2020 online shopping will exceed all of 2019 by Oct. 5. 
  • States that already reopened saw an 8% smaller year-over-year increases in online sales in July as compared to states that still had stay-at-home orders at the beginning of the month.
  • The trend toward buying items online and picking them up at the store continues to be significant but has waned, declining 21% from May to June. Such sales are still more than double those of a year ago.
  • Rhode Island, New Mexico, Oregon and Vermont saw the highest year-over-year spikes in online spending. Kansas, Hawaii, Oklahoma and Iowa showed the smallest gains.

What they're saying: Adobe senior digital insights manager Vivek Pandya attributed e-commerce's retraction from record highs in July to both reopenings and "spending levels dropp[ing] as households tightened their belts due to falling employment levels and looming cutbacks in unemployment benefits."

Go deeper

Nov 9, 2020 - Sports

How the coronavirus pandemic helped fuel 2020's golf boom

Illustration: Aïda Amer/Axios

With the Masters' first-ever November start just three days away, it's a great time to look back on 2020's golf boom.

Why it matters: Golf was a physical and mental safe haven for millions of Americans with cabin fever this year, and even moderate retention of the sport's newcomers could help buoy an entire industry for years to come.

Kendall Baker, author of Sports
2 hours ago - Sports

European soccer is at war

Liverpool celebrating its 2019 Champions League victory. Photo: Nigel Roddis/Getty Images

Europe's biggest soccer clubs have established The Super League, a new midweek tournament that would compete with — and threaten the very existence of — the Champions League.

Why it matters: This new league, set to start in 2023, "would bring about the most significant restructuring of elite European soccer since the 1950s, and could herald the largest transfer of wealth to a small set of teams in modern sports history," writes NYT's Tariq Panja.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

2021's expected earnings blowout begins

JPMorgan CEO Jamie Dimon. Photo: Mark Kauzlarich/Bloomberg via Getty Images

First-quarter earnings so far have been very strong, outpacing even the rosy expectations from Wall Street and that's a trend that's expected to continue for all of 2021. S&P 500 companies are on pace for one of the best quarters of positive earnings surprises on record, according to FactSet.

Why it matters: The results show that not only has the earnings recession ended for U.S. companies, but firms are performing better than expected and the economy may be justifying all the hype.