Tuesday November 12th, 2013 - 11:36AM
Online consumer spending continues to grow at a rapid pace, according to comScore, which reported that for third quarter 2013, ecommerce sales grew 13% over the same period last year, to $47.5 billion. The quarter marks the 16th consecutive period of year-over-year growth and the 12th consecutive quarter of double-digit growth, according to comScore.
In addition, mobile, or m-commerce, sales via smart phones and tablets jumped 26% over the same period last year, with $5.8 billion in sales for the quarter.
“Third quarter e-commerce spending grew 13% from a year ago, and although that marks a pretty healthy growth rate, it also represents a slight deceleration from the prior quarter,” said comScore chairman Gian Fulgoni. “Other macroeconomic indicators also suggested relative softness in discretionary spending, which offers some cause for concern as we head into the holiday season. Although there was evidence of slightly diminished consumer confidence in Q3, a more optimistic take is that increased outlays on large purchases such as new homes and automobiles may have temporarily squeezed other discretionary consumer spending. That said, the trend could still spell a challenging holiday season for retailers this year – particularly given the highly compressed calendar between Thanksgiving and Christmas, which contains six fewer shopping days than last year and is the shortest shopping season since 2002. Nonetheless, we are confident that the growth rate in online spending will once again far exceed that in bricks and mortar stores, reflecting the ongoing channel shift to e-commerce.”