Ecommerce revenues in the US fell for the first time ever in the third quarter, according to new figures from Forrester Research.
Online revenue slipped to $17 billion after two consecutive quarters of $20 billion sales. Analysts blamed the turbulent economic and political situation for the downturn but said that they expected spending to return to previous levels in the final three months of the year.
Forrester predicts that online sales will generate $9.5 billion in the holiday season, an increase from $8.3 billion last year. Growth has not been as high as expected as a result of ebbing consumer confidence.
“While more consumers will shop online this year, they are pinching pennies more than ever,” said Carrie A. Johnson, senior analyst at Forrester. “Due to lingering economic concerns, consumers will spend less this season. They will spend $433 per person versus $463 during the 2001 holiday season.”
