Online Spending Flat in Q17 May, 2009 By: Chris Tribbey
Online spending was flat during the first quarter of 2009, compared to a year ago when it was up 11%, according to a new report from online tracking service comScore.
However, flat isn’t so bad, if you consider consumer online spending was down 3% in the fourth quarter of 2008, the first time online spending was down since those numbers have been tracked.
“Although online retail spending growth was flat in the first quarter, this does represent a slight improvement over the disappointing fourth quarter,” said comScore chairman Gian Fulgoni. “These results would appear to indicate that the economy is finally exhibiting some signs of stability, and with consumer confidence beginning to improve, I’m optimistic that the online channel is poised for a return to positive growth in the second half of 2009.”
The sports and fitness products category carried the quarter, with growth of nearly 25%. Books and magazines (19%), video games, consoles and accessories (12%), and computer software (12%) were also up during the first quarter.