Friday, August 01, 2008

Q2 Online retail sales growth slows, but far outpaces offline growth

Online retail sales are softening with the economy, comScore Inc. reports. Online sales, however, are growing at five times the rate of total retail sales.

Online sales in the second quarter totaled $31 billion, comScore reports, up 14% from $27.2 billion a year ago. Sales were up 15% in April over April 2007; 12% in May over May 2007; and 11% in June over June 2007.

In offline spending, ShopperTrak RCT Corp.'s National Retail Sales Estimate reports that April sales rose 2.1% over a year ago, May sales were up 1.7%, and June sales rose 2.6%.

ComScore reports the following year-over-year growth rates for the past 13 months:
2007
June, 25%
July, 22%
August, 28%
September, 19%
October, 19%
November, 20%
December, 18%
2008
January, 12%
February, 14%
March, 9%
April, 15%
May, 12%
June, 11%

"With the first round of the government's economic stimulus checks having been mailed in early May, one would have hoped they would have bolstered online spending in May and June," says comScore chairman Gian Fulgoni. "However, recent comScore research reveals that fully two-thirds of consumers said they had not planned to spend their stimulus checks and rather intended to use the cash to pay off debt or put the money into savings. In addition, it's likely the impact of the stimulus may have been felt more offline, where a variety of merchants made it particularly easy for consumers to cash their checks at retail stores."

By category, comScore reports the following year-over-year growth rates:
Video Games, Consoles & Accessories, 73%
Furniture, Appliances & Equipment, 65%
Home & Garden, 23%
Event Tickets, 22%
Sport & Fitness, 21%
Consumer Electronics (excluding PC Peripherals), 5%
Apparel & Accessories, 13%
Flowers, Greetings & Gifts, -10%
Jewelry & Watches, -10%
Computers, Peripherals & PDAs, -11%
Toys & Hobbies, -11%
Music, Movies & Videos, -20%

via InternetRetailer

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Author & Editor, Jason Kiwaluk

Ideation | Ecommerce | Fintech | Innovation | Strategy | Opinionated Agitator RevenueWire,FuturePay+PayMotion

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