Report: E-commerce sales growth slows

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Report: E-commerce sales growth slows

3Q online jewelry and watch sales down 11 percent

November 05, 2008

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Reston, Va.--U.S. online retail spending increased six percent in the third quarter of 2008, compared with the same period last year, according to the latest research from ComScore.

This represents a slowdown in online spending compared with the year-over-year growth rates of 12 percent in the first quarter of 2008 and 13 percent in the second quarter of 2008.

Total U.S. online retail sales (excluding travel) were approximately $30 billion in the third quarter.

"Consumers' economic pressures continue to have a significant impact on retail spending, which is evident in the slowing growth rates in the online channel," ComScore Chairman Gian Fulgoni said in a media release.

Fulgoni noted, however, that the Internet remains a critical sales and media channel for retailers for three reasons: First, it is a more cost-effective medium than traditional media. Second, despite the slowdown, e-commerce growth rates still exceed those at retail. And third, online marketing campaigns have been proven to not only grow a retailer's e-commerce sales but to also have the ability to drive increased traffic into retail stores.

ComScore's research also discovered that since April of this year, there have been five consecutive months of declining online sales. September's 5 percent sales growth rate is the lowest recorded by ComScore since it began tracking e-commerce sales in 2001.

As in the second quarter of 2008, video games, consoles and accessories remains one of a handful of high-performing online retail categories, increasing 60 percent in the third quarter versus the same period last year. Furniture, appliances and equipment (up 52 percent) was another top performer, along with the sport and fitness category (up 40 percent).

Categories that have not performed as well as last year include music, movies and videos (down 29 percent), jewelry and watches (down 11 percent), toys and hobbies (down 3 percent) and apparel and accessories (down 2 percent).

ComScore measures the digital world and is a preferred source of digital marketing intelligence. For more information, visit the company's Web site, Comscore.com.

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