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BizReport : Ecommerce archives : May 24, 2010

comScore: Ecommerce up 10% in Q1

Here's one more sign that the economy, both in the US and around the world, is in recovery mode: comScore is reporting that, overall, ecommerce increased by about 10% for the quarter. According to comScore numbers the online retail spend hit $33.98 million.

by Kristina Knight

As should be expected, the Q1 2010 numbers are down several percentage points from Q4 2009 numbers. The holiday shopping season was, indeed, kind to both online and offline retailers. In Q4 the online retail spend reached just over $39 million.

For full Q1 comparisons, though, we must look at Q1 2009, 2008 and 2007. According to comScore in 2009 the Q1 online retail spend reached just over $31 million, basically the same as the 2008 spend. In 2007 online shoppers spent nearly $28 million online. So in three years the online spend for Q1 has increased just over $6 million.

"The first quarter returned the U.S. retail e-commerce market to healthy double-digit growth rates," said comScore chairman Gian Fulgoni. "While these spending gains provide reason for optimism, we should note that upper-income households are currently shouldering much of the growth. Should the economy falter in the second half of the year and upper-income consumers return to a savings mode, we could still see growth decelerate. But for the time being, this momentum is encouraging."

One interesting note is the 'Pureplay' (online only) retailers continue to gain market share from multi-channel retailers, an indication that pureplay operations are either better at targeting and engaging consumers.

Tags: comScore, ecommerce, online shopping, online spend, Q1 spending

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