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Pandemic Predictions: Holiday Forecasts Depend On Three Factors

PYMNTS

When the pandemic first took hold of the retail industry in March and April, the phrase “it’s hard to forecast during a pandemic” was heard in most every executive interview or earnings call. Now that the holiday sales season is imminent, the operative phrase is … well … “let’s try to forecast during a pandemic.”. economic forecaster.

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Financing Gets Flexible As eCommerce Sellers Brace For Seasonality Whiplash

PYMNTS

And the surge in eCommerce isn't isolated to the B2C world, either: as social distancing requirements and shutdowns migrate corporate buyers online, wholesalers, distributors and other B2B vendors are likely to face a similar holiday boon this year to fulfill rising customer demand. Traditional lenders look at the past," he said.

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Today In Payments: PNC Advances $11.6B BBVA Purchase Deal; US Economic Forecasts Grim Amid Escalating COVID-19

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US Economic Forecasts Grim Amid Escalating COVID-19. Fears of economic freefall are mounting as the U.S. The all-cash deal gives PNC the U.S. unit of Spain-headquartered BBVA. The new combined bank will be the fifth-largest retail bank in the country.

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Walmart Crushes Earnings; eCommerce Soars 74 Pct

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Walmart announced its first-quarter earnings this morning (May 19), crushing even the highest expectations for in-store as well as eCommerce revenue. In-store comps were up 10 percent over 2019 and eCommerce spiked 74 percent as consumers stocked up on essential and nonessential goods. It is now available in 2,000 stores.

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World Bank Downgrades India’s GDP Forecast

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The World Bank has downgraded India’s GDP forecast due to a decrease in domestic demand. In such a weak economic environment, structural issues surface and the weak financial sector is becoming a drag on growth.”. The report follows the Reserve Bank of India’s ( RBI ) move earlier this month to cut its economic growth projection to 6.1

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Latest Economic Data Sends Mixed Signals About Consumer Holiday Spend

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1) after the first major data report of the fourth quarter showed a continuation of America’s recent economic woes. New figures from the Bureau of Economic Analysis showed that personal income fell 2.7 An Uncertain Spending Forecast .

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Today In Payments: China Drops GDP Target; Dubai Creating Free Trading eCommerce Zone

PYMNTS

In today’s top news, China has opted not to set any economy growth forecast amid the uncertainty caused by the pandemic, and Dubai is creating a free trade zone for eCommerce. China Drops GDP Target Due To Economic Instability. Dubai Creating $870M Free Trading Zone For eCommerce. In 2019, China’s economy grew 6.1