The news: US retail sales fell month-over-month (MoM) in May for the first time in five months thanks in large part to a rapid decline in purchases of vehicles and other big-ticket items, per the US Commerce Department. The 0.3% MoM decline was below the Dow Jones-estimated 0.1% gain, according to CNBC.
With its large number of US-based merchants and growing international traffic, Shopify is well-positioned to capitalize on businesses’ desire to go international. Per Modern Retail, 50% of Shopify’s merchants are based in the US. Meanwhile, 27% of its July store traffic came from outside the US.