August 10th 2010
Internet retail sales increased to an aggregate $32.9 billion in the U.S. during the second quarter of 2010, according to research firm comScore. That’s a 9 percent increase over 2009’s total, and represents the third straight quarter of increases after the previous weak sales during the downturn.
“The second quarter’s continuation of the first quarter’s strong retail e-commerce growth rates is encouraging,” says Gian Fulgoni, the comScore chair. “We remain cautiously optimistic heading into the second half of the year, but we will be keeping a close eye on unemployment rates, which along with potential uncertainty in the stock market could limit growth in e-commerce spending in the near term.”
Sales are up 17 percent among households with an income of $100,000 or higher.
Consumers spending their money in consumer electronics (excluding PC peripherals); computer software (excluding PC games); computers/peripherals/PDAs; and books and magazines.
It’s also worth noting that retailers with multi-channels gained the most market share vis-à-vis companies with merely an online presence.
Retail E-Commerce (Non-Travel) Growth Rates
Excludes Auctions, Autos and Large Corporate Purchases
Total U.S. – Home/Work/University Locations
Source: comScore, Inc.
Quarter E-Commerce Spending ($ Millions) Y/Y Percent Change
Q1 2007 $27,970 17%
Q2 2007 $27,176 23%
Q3 2007 $28,441 23%
Q4 2007 $39,132 19%
Q1 2008 $31,178 11%
Q2 2008 $30,581 13%
Q3 2008 $30,274 6%
Q4 2008 $38,071 -3%
Q1 2009 $31,031 0%
Q2 2009 $30,169 -1%
Q3 2009 $29,552 -2%
Q4 2009 $39,045 3%
Q1 2010 $33,984 10%
Q2 2010 $32,942 9%
That’s certainly encouraging news. But it also underscores how the affluent are faring better in the recovery, so far.
Terry Corbell, my close colleague and friend, is Seattle’s “Biz Coach.” I wanted to share his article with you, and refer you to his site, where you will find hundreds of interviews and articles (http://www.bizcoachinfo.com).
