Online buyers spent 14 percent more during this year's second quarter than in the same quarter a year ago, bringing online spending to $37.5 billion, researcher comScore reports today.
This was the third quarter in a row that online sales grew by double digits, and the seventh consecutive quarter of overall growth for online sales. The increase was likely the result of more online shoppers, comScore notes. According to its report, the number of online buyers increased by 16 percent during the second quarter, while 70 percent of online shoppers said they made at least one purchase online during the quarter.
"It's clear that consumers are continuing to shift to the online channel, with almost $1 in every $10 of discretionary spending now occurring online," says Gian Fulgoni, comScore's chairman. "E-commerce's benefits of convenience and lower prices continue to be the drivers of the shift."
Similar to previous years, consumer electronics, computer hardware, computer software and event tickets were among top categories for online buyers. But shoppers are starting to spend more of their dollars with small and mid-sized retailers. In fact, the top 23 online retailers saw a slight drop in market share. Thought they still received the majority of money spent online, with 66.4 percent, that is down from 67.7 percent a year ago, comScore notes.
Despite the growth, Fulgoni notes that shoppers are still cautious when it comes to spending.
"We believe the third quarter will be an important indicator of which direction this economy is really headed and what that will mean for consumer spending," he says.
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Auctiva staff writers constantly monitor trends and best practices of those selling on eBay and elsewhere online. They attend relevant training seminars and trade shows and regularly discuss the market with PowerSellers and other market experts.