Online Retail spending jumped 11%
Website promotion will undoubtedly be in full swing after it was revealed that consumer spending online hit all kinds of new highs in Q4 2010.
comScore: Consumer online spending hits new highs in Q4 2010
Wednesday, February 09 2011 by Steve Swallow
Businesses will undoubtedly galvanise their managed emarketing efforts after it was revealed that quarter four of 2010 was delivering record spending online, according to the latest information released by comScore.
The leader in digital metrics measurement explained its Q4 2010 US retail e-commerce sales estimates, which highlighted how online retail spending reached a massive $43.4 billion (£27 billion) for the period, jumping by 11 per cent over one year ago.
As a result, the growth rate represented the fifth consecutive quarter of positive year-over-year growth as well as the second quarter of double-digit growth in the last 12 months.
Top-performing product categories included computer software excluding PC games, consumer electronics, computers/peripherals/PDAs, as well as toys and hobbies. Each category grew by at least 15 per cent on figures registered a year ago.
Additionally, the top 25 online retailers used website promotion to claim 68.4 percent of money spent online, jumping by 5.6 percentage points year-on-year. This is a decline from Q3 2010, when the top sellers accounted for 69.9 percent of money, indicating that small and mid-sized companies are also rebounding from the recession.
comScore chairman Gian Fulgoni said: “Retail e-commerce had a strong fourth quarter, growing 11 percent versus last year as holiday season spending was bolstered by an improving sentiment among some consumer segments and by retailers’ discounting and promotions.
“The 2010 holiday season saw the first billion-dollar day on record and several more surpassing $900 million (£561 million) to help propel Q4 to record spending levels.”
He added that comScore anticipates that progress seen in the past year will continue with sustained double-digit growth rates in 2011, underlining the possibilities for businesses looking for a high website ranking.
This week, comScore revealed that online activity in Brazil has peaked due to the imminent presidential election, which everyone is keeping an eye on this week.
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