Online retail spending reached $37.5 billion, up 14 percent from a year ago, according to comScore’s latest quarterly study. Highlights from comScore’s study include:
- The 14-percent growth in the quarter was primarily a function of an increase in the number of buyers (up 16 percent), with 70 percent of all Internet users making at least one online purchase in the quarter.
- The top-performing online product categories were: Consumer Electronics (excl. PC peripherals), Computer Hardware, Computer Software, and Event Tickets. Each category grew at least 15 percent vs. year ago.
- The top 25 online retailers accounted for 66.4 percent of dollars spent online, down from 67.7 percent a year ago and down from a peak of 69.9 percent in Q3 2010, as small and mid-sized retailers continue to regain lost market share.
SMBs should take advantage of social media, location-based deal offerings and check-in services which provide the convenience and economical prices that consumers crave when shopping online.