Monday, August 10, 2009

Report: eCommerce Sales Still Flat

A report released today by online measurement service comScore is reporting that U.S. online retail spending was roughly flat from last year, totaling $30.2 billion, down about 1 percent versus the same quarter last year. The results were about the same as Q1, when ecommerce sales were also approximately the same as Q1 of 2008, but were better than the 3 percent drop online sites saw in Q4 of 2008. The results seem to suggest that--despite optimism that the economy is recovering--online retail spending hasn't yet turned around. Until Q3 of last year, comScore had tracked consistent ecommerce sales growth in double digits. comScore postulated that nearly 10-percent unemployment, rising gas prices, and an increased savings rate is holding down discretionary spending by consumers.