IDG Capital Partners has invested in 18 Chinese e-commerce startups this year.
Online sales of children’s apparel grew 30.4%.
Consumers took a break from shopping in May, but not so much online, as e-commerce sales grew 13.7% year over year, MasterCard Advisors reported today in its monthly SpendingPulse report. The report provides estimates for retail sales from all payment forms, not just MasterCard cards.
E-commerce had its eighth consecutive month of double-digit growth, which demonstrates the channel’s resilience, says the report from MasterCard Advisors, a consulting unit of MasterCard Worldwide.
The best-performing e-commerce categories were children’s and family apparel which grew 30.4% and 26.2%, respectively, year over year.
While MasterCard did not provide an estimate for overall retail growth in May, the report noted that overall spending on luxury goods and jewelry grew 9.7% and 6.4%, respectively, year over year. The comparison is with a weak May 2009, notes Michael McNamara, vice president of research and analysis for SpendingPulse.
Spending on other goods declined. Electronics and appliances decreased 0.7%, which may be explained by the expiration of the government tax credits for new home buyers, says the report. Many consumers buy new appliances and electronics, such as high-definition TV sets, when they buy a new house.
Other categories also declined. For instance, apparel was down 3.7%, including a 10.4% decrease in men’s apparel, a 7.3% dip in footwear and a 6.1% decline in women’s apparel.