Online Spending Outperformed Overall Spending in Some Categories This Season
Despite a weak holiday season, online spending has outperformed overall consumer spending across several key retail categories, according to a recent report from online research firm comScore.
For the report, comScore compared e-commerce data to online and offline consumer spending data published by MasterCard Advisors' SpendingPulse unit for the period of Nov. 1 to Dec. 24 vs. the comparable period from a year ago.
The report revealed the following insights:
- sales of apparel and accessories grew 4 percent online, compared to a 19 percent to 21 percent decline in the category across all channels combined;
- sales of consumer electronics declined 5 percent online, and sales of home, garden and furniture products fell 14 percent online, compared to a 26 percent decrease in overall channel sales of electronics and appliances;
- sales of jewelry and watches dropped 24 percent online, compared to a 34 percent decline in overall sales of luxury goods including jewelry and watches.
- the top-growing online product category for the season was sporting goods and fitness. This category grew 18 percent vs. a year ago; and
- the second fastest-growing category was video games, consoles and accessories, which grew 14 percent.
comScore also analyzed nontravel e-commerce spending by household income for the holiday shopping season. It revealed that online spending was up 7 percent within households with annual incomes of $100,000 or more. Those households earning less than $50,000 a year were the most affected by the current economic environment, with their online spending declining by 13 percent vs. a year ago.