The latest US e-commerce spending figures for the third quarter of 2007, newly released by comScore, show that retail e-commerce increased 23% versus year ago to $28.4 billion.
“Online retail spending continues to grow at rates in excess of 20 percent year-over-year, which suggests that the market is still far from maturity,” said comScore chairman Gian Fulgoni. “Even online travel commerce, which is a more developed market, continues to experience double-digit gains.”
During the first nine months of 2007, total e-commerce spending surpassed $143 billion, putting it on pace to reach $200 billion by the end of the year. Retail e-commerce accounted for nearly $84 billion, or 58 percent of the total, while online travel spending came in just shy of $60 billion.
| Year-to-Date U.S. E-Commerce Spending, Excludes Auctions and Large Corporate Purchases Q1-Q3 2007 v Q1-Q3 2006, Total US – Home/Work/University Locations |
| |
Q1-Q3 2006 (MM) |
Q1-Q3 2007 (MM) |
Percent Change |
| Total |
$122,055 |
$143,326 |
17% |
| Non-Travel (Retail) |
$69,120 |
$83,587 |
21% |
| Travel |
$52,935 |
$59,739 |
13% |
| Source: comScore |
Video games, consoles & accessories continues to be the hottest retail category, nearly tripling its online sales from last year on the strength of Nintendo Wii and Sony PlayStation 3-related sales. Consumer electronics was the second-fastest growing category in Q3 (up 58%), with high definition and flat screen TVs helping move the needle.
| Top Gaining Online Retail Categories, Excludes Auctions and Large Corporate Purchases, Q32007 v Q3 2006, Total US- Home/Work/University Locations |
| Retail Category |
Percent Change (Q3 2007 v Q3 2006) |
| Video Games, Consoles & Accessories |
199% |
| Consumer Electronics (excl. PC Peripherals) |
58% |
| Toys & Hobbies |
57% |
| Event Tickets |
54% |
| Books & Magazines |
48% |
| Furniture, Appliances & Equipment |
47% |
| Home & Garden |
31% |
| Music, Movies & Videos |
31% |
| Jewellery & Watches |
21% |
| Sport & Fitness |
20% |
| Apparel & Accessories |
11% |
| Source: comScore |
|
Recent research from JupiterResearch forecast that US online holiday retail sales will grow to over $39 billion in 2007, an increase of 20% over last year’s holiday season (see US Online Holiday Retail Sales To Reach $39b).
Meanwhile, another report forecast that internet users in Europe will spend a projected €51 billion ($71 billion US dollars) online during the Christmas season this year (see European Internet Users To Spend €51b Online At Christmas).
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