Report: In tough times, consumers turn to financial websites

When times get tough, consumers cut back on non-essentials and turn in droves to financial websites. That is the word from a new comScore report, which shows an 800,000 visitor jump in traffic to the BBC News-Business website in September.

by Kristina Knight

This jump in traffic directly followed the news that it wasn't only the US economy in trouble. Word quickly spread that markets around the world would face tough times in the coming months.

"Because of the immediacy in reporting real-time fluctuations in the financial markets, Europeans have become increasingly reliant on financial news Web sites for the most up-to-the minute information," said Herve Le Jouan, Managing Director, comScore Europe. "With European and world markets exhibiting such volatility, the Internet has proven itself to be the go-to resource for those with a vested interest in the markets, as well as concerned consumers generally."

The report shows that overall, the financial news/research category grew 10% (8.8 million users) from August to September. Guardian Business was the fastest growing website (141% traffic increase). Next was Sky Money (122% increase) and CNN Money (103% increase). Rounding out the top five were Bloomberg.com (60% increase) and Telegraph Money & Business News (56% increase).