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BizReport : E-commerce : October 29, 2007
comScore: Ecommerce grows 23% in Q3
Online shopping continued to show strong growth in the US during the third quarter. According to online metrics firm comScore, retail (non-travel) ecommerce showed 23% growth year-over-year (YoY) during Q3 2007 to reach more than $28 billion.
“Online retail spending continues to grow at rates in excess of 20 percent year-over-year, which suggests that the market is still far from maturity,” said comScore Chairman Gian Fulgoni. “Even online travel commerce, which is a more developed market, continues to experience double-digit gains.”
Online travel revenues showed an 11% increase in Q3.
comScore forecasts that online retail spending will now surpass $200 billion by year's end. During the first nine months of 2007 total online spending reached $143 billion with retail accounting for $84 billion (58%) and travel accounting for about $60 billion.
The hottest sellers online are in the gaming categories. Video games, consoles and accessories saw a 199% increase in online sales. Consumer electronics showed a 58% increase while toys and hobbies showed a 57% increase in online sales. Online ticketing continues to be a hot ticket and increased sales by 54% followed by books/magazines with a 48% increase of 2006 numbers.
Home items (furniture, accessories, etc.), music/movies and personal items such as jewelry and watches also showed strong growth YoY.
Tags: ecommerce, online shopping
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