|comScore Reports Record-Breaking $43.4 Billion in Q4 2010 U.S. Retail E-Commerce Spending, Up 11 Percent up from last year. comScore is a leader in measuring the digital world, today released its Q4 2010 U.S. retail e-commerce sales estimates, which showed that online retail spending reached a record $43.4 billion for the quarter, up 11 percent versus year ago. This growth rate represented the fifth consecutive quarter of positive year-over-year growth and second quarter of double-digit growth rates in the past year.
Q4 spending was largely due to holiday shopping but this year there were a number of factors besides improvements in economy that helped push spending to record levels. Free shipping offers, and the extra cold December following the Christmas holiday also propelled shoppers to look online for deals in the quarter. See the extracts of the report here.
The highest grossing product categories were Computer Software, Consumer Electronics, Books & Magazines (which exclude digital downloads), Computers/Peripherals/PDAs, and Toys and Hobbies. Each of the categories grew at least 15 percent in Q4 2010 vs. a year ago. And comScore says that the top 25 online retailers, including retail giants Amazon and Walmart accounted for 68.4 percent of dollars spent online, which is up 5.6 percentage points from a year ago. Interestingly, in Q3 2010, the top 25 retailers accounted for slightly more, with a share of 69.9 percent of dollars. This could show that shoppers also bought items from smaller retailers online this holiday season.
If this trend is to be continued there will be a guaranteed job prospects for web consultants and web development with E-commerce opportunities in this sector.
comScore reports on other highlights from Q4 2010 include:
- The top-performing online product categories were Computer Software (excl. PC Games), Consumer Electronics, Books & Magazines (excl. digital downloads), Computers/Peripherals/PDAs, and Toys & Hobbies. Each of the aforementioned categories grew at least 15 percent in Q4 2010 vs. year ago.
- The top 25 online retailers accounted for 68.4 percent of dollars spent online, up 5.6 percentage points vs. year ago. However, this percentage represented a decline from Q3 2010, during which the top 25 retailers accounted for 69.9 percent of dollars, an indication that small and mid-sized retailers are also rebounding from the recession.
- 84 percent of U.S. Internet users conducted an online transaction in Q4 2010, up from 78 percent last year. The average buyer spent about the same amount online during the most recent quarter as they did last year.