An uptick in cases could give a second boost to e-commerce, which saw growth slightly slow down as retail reopened. Nonstore retail sales, a good proxy for e-commerce, were up 23.5% annually — a slight slowdown from gains in May, per The WSJ. Though online shopping remains far more prominent than in past years, gains likely slowed as customers began to return to stores.
Point-of-sale providers must prepare for ongoing retail changes to maintain their own volume during the crisis. Declining retail sales directly impact payment facilitators: Square's growth considerably in Q1 2020, for example. But these providers can mitigate some of the pitfalls by leaning into changing retail habits.
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