US e-commerce up
comScore recently released its Q2 2010 US retail e-commerce sales estimates, which showed that online retail spending reached US$32.9 billion (about R240 billion) for the quarter, up 9% versus year ago. This growth rate represented the third consecutive quarter of positive year-over-year growth following a year of flat or negative growth rates.
| Retail E-Commerce (Non-Travel) Growth Rates Excludes Auctions, Autos and Large Corporate Purchases Total US - Home/Work/University Locations Source: comScore, Inc. | ||
|---|---|---|
| Quarter | E-Commerce Spending (US$ Millions*) | Y/Y Percent Change |
| Q1 2007 | US$27,970 | 17% |
| Q2 2007 | US$27,176 | 23% |
| Q3 2007 | US$28,441 | 23% |
| Q4 2007 | US$39,132 | 19% |
| Q1 2008 | US$31,178 | 11% |
| Q2 2008 | US$30,581 | 13% |
| Q3 2008 | US$30,274 | 6% |
| Q4 2008 | US$38,071 | -3% |
| Q1 2009 | US$31,031 | 0% |
| Q2 2009 | US$30,169 | -1% |
| Q3 2009 | US$29,552 | -2% |
| Q4 2009 | US$39,045 | 3% |
| Q1 2010 | US$33,984 | 10% |
| Q2 2010 | US$32,942 | 9% |
*At the time of posting this article, the exchange rate was approximately R7.3/US$
"The second quarter's continuation of the first quarter's strong retail e-commerce growth rates is encouraging," said comScore chairman Gian Fulgoni. "We remain cautiously optimistic heading into the second half of the year, but we will be keeping a close eye on unemployment rates, which along with potential uncertainty in the stock market could limit growth in e-commerce spending in the near term."
Other highlights from Q2 2010 include:
- Upper-income households (those earning at least US$100 000 [about R730 000] annually) grew 17% versus year ago, approximately twice the overall e-commerce growth rate during the quarter;
- Among the top-performing online product categories were: Consumer Electronics (excl. PC peripherals), Computer Software (excl. PC games), Computers/Peripherals/PDAs, and Books & Magazines;
- Multi-channel retailers regained e-commerce spending market share versus online pure play retailers following five consecutive quarters of declining market share.
Webinar series: State of the US online retail economy through Q2 2010
Join Fulgoni as he presents an update of the state of the US online retail economy through Q2 2010 in a live webinar on Thursday, August 19 at 2pm ET/1pm CT (US times zones).
The webinar presentation will include an overview of changes in consumers' online spending patterns through Q2 2010, survey findings that highlight consumer sentiments regarding the economy, as well as an analysis of spending patterns across key product categories, retailer sectors and consumer demographic segments.
To register for the webinar, go to www1.gotomeeting.com/register/266160553.