Coremetrics: March sees rise in online spending

According to new figures released by Coremetrics, consumers spent more on more items during March giving online retailers a much needed boost.

by Helen Leggatt

Consumers have regained a measure of confidence about their purchasing power, according to Coremetrics' chief strategy officer, John Squire, and this has been reflected in more sales and an increase in the average dollar amount spent.

Consumers spent 4% more in March than in February and purchased 12% more items, found Coremetrics' benchmark study (.pdf) of over 300 online retailers. Health and beauty and the jewellery industries both enjoyed an increase in orders and average dollar values, along with increased consumer engagement.

"We're seeing online purchasing behavior that is strongly tied to consumer attitudes about the bigger economic picture, and the best retailers out there are finding ways to appeal to consumers who are spending their money more thoughtfully," said Squire.

Year-over-year, the figures paint a different picture and are down across the board. Average order values, average number of items per order and shopping cart conversions all fell significantly - 6.3%, 8.1% and 3.4% respectively - compared to March 2008.

Tags: average order value, coremetrics, health and beauty, jewellry, online retail, online spending