E-commerce up 10% in Q1, best since Q2 2008: ComScore

Share this article:

E-commerce spending jumped 10% year-over-year in the first quarter of 2010, accounting for nearly $34 billion, according to digital marketing intelligence firm ComScore. The quarter was the first time e-commerce spending increased by double digits since the second quarter of 2008.

Although these figures are promising for e-commerce merchants, comScore noted that consumers who earn $100,000 or more per year predominantly drove this growth.

“It's the first positive sign of the return to strong consumer discretionary spending,” said Andrew Lipsman, senior director of marketing communications at ComScore. “It does come with a caveat, especially with the market looking shaky. We hope it's not short-lived.”

Lipsman added that the upper-income consumers responsible for the double-digit Q1 gain might tighten their purse-strings for the rest of the year if the economy remains sluggish.

“We're taking a wait and see approach,” he explained.

ComScore also noted that large online retailers generated higher growth rates than their smaller counterparts during the first quarter. However, smaller e-commerce merchants are seeing positive growth again, according to the firm.

ComScore also noted that online retail is also continuing to gain market share of overall multichannel retail.

Share this article:
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Generating Loyalty for Brands and Retailers in an Omnichannel World

Generating Loyalty for Brands and Retailers in an ...

Harnessing personas, loyalty programs, and new technologies can help marketers better connect with customers.

News Byte: Salesforce Forms Unit to Focus on Verticals

News Byte: Salesforce Forms Unit to Focus on ...

The industries business unit, led by ex-White House CIO Vivek Kundra, will serve six industry groupings.

Columbia U. Puts the "Do" in "Donation"

Columbia U. Puts the "Do" in "Donation"

Columbia University raises nearly $7 million in donations in just 24 hours with a combination of social media, live events, and gamification.