Q1 Online Retail Spending Up 10% Versus Last Year
Online retail spending neared $34 billion for the first quarter, up 10 percent versus a year ago, according to Q1 2010 U.S. retail e-commerce sales estimates from comScore, a digital marketing intelligence provider.
The strong acceleration represented the first time growth rates reached double-digits since the second quarter of 2008, according to comScore.
Other highlights from the comScore report include the following:
- growth in the first quarter was predominantly driven by upper-income consumers, with spending among the $100,000-plus household income segment up 14 percent;
- online-only retailers continued to gain market share from multichannel retailers; and
- larger online retailers continued to generate higher growth rates than smaller retailers, but smaller retailers are finally beginning to see positive growth once again.