October E-commerce Spending Jumps 19 Percent

November 13, 2007  by in UnCategorized   

By Home Furnishings Business in on November 2007 Online, non-travel retail sales jumped 19 percent to nearly $10 million in October compared to the same month last year, according to comScore, a leader in measuring digital information.

Furniture, appliances and equipment experienced a strong month, growing 105 percent versus last year, followed by computer software (up 76 percent) and event tickets (up 43 percent). Apparel and accessories, typically one of the largest online retail categories, grew 5 percent in October.

The October growth rate marked a slight decline from the growth rates observed earlier in the year. Retail e-commerce sales year-to-date through September grew at about 21 percent.

“October e-commerce activity often gives us a glimpse of what to expect during the holiday season,” said Gian Fulgoni, comScore chairman. “That online sales growth rates diminished slightly in October is not entirely unexpected, as many consumers are feeling the pinch of ballooning mortgages and gas prices, coupled with a decline in housing values. Even the rapidly growing online commerce sector appears to not be immune from these economic realities.”