In the first quarter of 2017, the ecommerce industry experienced a sharp rise in demand, as people began to use their smartphones and tablets to buy products online.

The rise in digital retail spending was attributed to the popularity of ecommerce platforms such as Amazon and Alibaba, as well as the increasing ease of buying and selling goods on these platforms.

As such, it was expected that ecommerce spending would continue to increase as a result of these platforms, with a large part of the revenue generated going to retailers.

However, in the first half of 2017 the e-commerce industry actually experienced a drop in the total amount of sales, with the number of transactions reported by retailers decreased by 6.7%.

This was due to the decrease in online transactions in the month of January, and the increasing prevalence of smartphones in the retail industry.

The decline in online sales was attributed as a major reason for the drop in total sales.

The drop in online retail transactions was attributed in part to the decline in purchases on platforms such to Amazon and Taobao, which caused the demand for goods to decrease and the amount of inventory sold to decrease.

This resulted in fewer customers and lower sales, resulting in a dip in the revenue from e-tailers.

According to the report, the decline was due in part due to “rising e-shop prices” and the “falling of e-retailer’s margins”.

The report also noted that the overall decline in sales was due “to a combination of factors, including the fall in sales from the Taobox e-trends, which are expected to continue until the end of this year, and a decrease in the demand from ecommerce consumers”.

However, this trend is likely to continue, as more people turn to online shopping as a way to spend their earnings.

In this case, the rise in online purchases is expected to cause an increase in the cost of goods sold, leading to a decrease of profit margins.

The study also notes that the online retailer margins will likely continue to decrease, with an average of 8.3% in the second quarter of this calendar year compared to 8.7% in last year.

The report notes that although the trend is expected in the short-term, it will likely be reversed by the end, with margins rising to between 9.5% and 9.8%.

The drop could lead to an increase of retail sales as well.

According, the average margin in the etailers is currently between 8.2% and 8.5%.

It is expected that margins in the online retail sector will likely decline further.

The industry will continue to see an increase due to this trend, but it is important to note that it will take a long time to reverse the trend.

While the report notes a decline in the number and type of online transactions, it does note that the drop was due primarily to the increased prevalence of smartphone use, which was responsible for a decrease as well in online inventory.

Additionally, the report states that there was an increase, as the demand of etailer’s increased to include online transactions.

The number of estore transactions increased by 11.4% in Q1 2017, while the number online transactions increased to 16.6% in 2017.

It is estimated that the total number of online orders is expected increase to about 2.6 million units in 2017, with online inventory decreasing by about 15% in this year’s quarter.

The increase in online orders was partially due to a drop of the number, as they had increased in Q2 2017 due to e-marketplaces that had not yet launched.

This is likely due to both of the reasons listed above.

The marketer industry continues to experience growth due to new platforms, which will continue increasing demand for ecommerce retailers.

For example, it is predicted that the number one reason why online purchases continue to grow is due to people who are looking for a place to shop.

It has been estimated that there will be 1.2 billion online purchases in 2017 alone.

These purchases will likely increase even further, as new services are launched and services are introduced to the market.

While online shopping is a lucrative source of income, the increase in e-consumer spending will result in an increase to retail sales, as these sales will be offset by an increase for online purchases.

This, in turn, will reduce profit margins for e-Retailers.

This report was prepared by a team of financial analysts from Nomura, which has more than 15 years of experience in the financial services industry.

For more information about the Nomura Group, visit the Nomoya website at www.nomura.com.

The Nomura Report is provided for informational purposes only and should not be construed as an offer to sell or the solicitation of an offer, including without limitation any guarantee or guarantee of a particular outcome or future performance, or any other obligation of Nomura or any third party to any person