By : Chris Tribbey | Posted: 12 Nov 2009
ctribbey@questex.com

Consumer electronics was one of only two categories that saw increased sales online during the third quarter, according to an analysis from online tracking service comScore.

However, overall online spending ($29.6 billion) for the three months fell 4%, compared to the same period in 2008. Year-to-date through September, American consumers have spent $153 billion online, down 3% from the first nine months of 2008, comScore reported.

“Things have become more economically challenging for consumers,” comScore chairman Gian Fulgoni. “The rise in gas and food prices is sucking disposable income out of consumers’ wallets.”

ComScore is predicting growth in online consumer spending for the all-important fourth quarter and holiday season, more than the $38.1 billion spent in the fourth quarter of 2008, but the spending won’t be coming from the low-income bracket. ComScore predicts Americans earning less than $50,000 a year will spend 5% less than they did last year in the fourth quarter. Overall, 55% of consumers said they have less money to spend this holiday season, compared to the holiday season of 2008.

Nearly 20% more consumers are shopping online this year compared to last, Fulgoni said, but consumers overall are spending 18.4% fewer dollars online than they did last year. And the recent DVD pricing war between Wal-Mart and Amazon will expand into other areas, Fulgoni predicted, with consumers visiting both retailers online to comparison shop.

“These two giants are going head to head,” he said. “I think their competitors better be careful.”

He also presented data that showed coupon and discount deals are driving consumers to a host of online companies, including Netflix, Target and Best Buy.

ComScore’s data was gathered by tracking the online spending habits of 2 million consumers.

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