Online retail spending reaches $41.9bn in Q3

PanARMENIAN.Net - According to comScore, Inc, online retail spending for the third quarter increased 15 percent, year-over-year, to $41.9 billion, representing the 12th consecutive quarter of positive year-over-year growth and eighth consecutive quarter of double-digit growth, Forbes reported.

Gian Fulgoni, chairman of the Reston, Va.-based company that specializes in measuring digital data, said the numbers are consistent with the prior quarter and confirmed “the strength in the e-commerce sector, despite a few negative headwinds in the macroeconomic environment during the quarter. Such performance offers some optimism as we approach the holiday season, especially given recent improvements in consumer sentiment.”

He added, “With the housing market beginning to show signs of recovery in addition to increasing – if still underwhelming – job growth, there appears to be strong enough footing to support a very healthy online holiday shopping season.”

Other highlights from comScore’s Q3 2012 U.S. retail e-commerce sales estimates include:

* The top-performing online product categories, according to the survey were: Digital Content & Subscriptions, Consumer Electronics, Event Tickets, Apparel & Accessories, and Computer Software. Each category grew at least 16 percent year-over-year.

* About 37 percent of U.S. consumers say they have engaged in “showrooming” behavior where they use a smartphone while in a retail store to check prices or to purchase a product online, representing a 5-percent increase in the past two quarters.

* According to the survey, 48 percent of U.S. consumers now rate the economy as “poor,” an 8-percentage point improvement compared to the prior quarter and the most pronounced improvement since early 2009.