This performance represents a growth of 15% over the last year. The company says e-commerce as a category remains strong, even though the second quarter performance couldn’t sustain the high growth rate as witnessed in the previous quarter.
Online retail spending was reported to be $44.3 billion in the first quarter. The second quarter performance is welcome news. When the first quarter estimates were out, comScore had mentioned that the industry the performance was marked by year-over-year growth rates in the high teens. And such growth hadn’t been registered since 2007.
At the same time, the company said owing to factors such as economic uncertainty and high unemployment rate, it would rather opt for a cautious route for its projections for the remainder of the year.
According to comScore, the main online product categories included Digital Content & Subscriptions, Consumer Electronics, Flowers, Greetings & Gifts, Computer Hardware and Apparel & Accessories.
Each of these product categories rose by at least 16% compared to the previous year. In the first quarter, each of the top categories grew by 17% over the previous year. As indicated earlier this year, e-commerce has already reached critical mass in several product categories.
The economic recovery hasn’t picked as desired. But commerce continues to move to the online channel, and savvy retailers need to identify ways to be part of this growth.
Filed under: Modern Retail, Online Shopping, Retail Formats | Tagged: Apparel & Accessories, categories, Computer Hardware, comScore, E-Commerce ., electronics, Flowers, Greetings & Gifts, Online Retail, retailers |