*comScore Chairman Gian Fulgoni to Present Update on Q1 2011 E-Commerce Trends in Upcoming Webinar*
RESTON, VA, May 10, 2011 – comScore, Inc., a leader in measuring the digital world, today released its Q1 2011 U.S. retail e-commerce sales estimates, which showed that online retail spending reached $38.0 billion for the quarter, up 12 percent versus year ago. This growth rate represented the sixth consecutive quarter of positive year-over-year growth and second consecutive quarter of double-digit growth rates.
|Retail E-Commerce (Non-Travel) Growth Rates
Excludes Auctions, Autos and Large Corporate Purchases
Total U.S. – Home/Work/University Locations
Source: comScore, Inc.
|Quarter||E-Commerce Spending ($ Millions)||Y/Y Percent Change|
“Domestic retail e-commerce built on the success of a strong 2010 holiday season with another encouraging quarter here in the first three months of the year,” said comScore chairman Gian Fulgoni. “Faced with rapidly rising gas prices and stubbornly high unemployment, consumers continued to take advantage of the Internet’s lower prices by shifting their spending from offline retail stores. In fact, in the first quarter, the growth in e-commerce spending was roughly double that observed at offline retail. While we would expect online buying to dampen slightly if gas prices continue to eat into discretionary spending, it’s clear that e-commerce has become a mainstay in consumer behavior, driven by the attraction of both lower prices and convenience.”
Other highlights from Q1 2011 include:
- The top-performing online product categories were: Video Games, Consoles & Accessories; Books & Magazines; Computers/Peripherals/PDAs; Consumer Electronics; and Computer Software (excl. PC Games). Each of the aforementioned categories grew at least 13 percent in Q1 2011 vs. year ago.
- The top 25 online retailers accounted for 67.7 percent of dollars spent online, the same percentage as last year, and down from a peak of 70 percent in 2010 as small and mid-sized retailers regain lost market share.
- The 12-percent growth in the quarter was a function of an increase in number of buyers (up 7 percent) and transactions per buyer (up 9 percent), but accompanied by a slight decline in dollars per transaction (down 4 percent).
Webinar Series: State of the U.S. Online Retail Economy through Q1 2011
Join Gian Fulgoni and Senior Director of Industry Analysis Andrew Lipsman as they present an update of the state of the U.S. online retail economy through Q1 2011 in a live webinar on Tuesday, May 17 from 1 – 2 p.m. EDT/12 – 1 p.m. CDT/10 – 11 a.m. PDT.
This installment includes an overview of e-commerce trends in the first quarter of 2011, including analysis on the effect of gas prices on consumer sentiment and data on the continued rise of deal-of-the-day sites.
To register for the webinar, please visit: https://www1.gotomeeting.com/register/383499296