Online sales growth decline

by Deepak Sharma on Sunday, November 02, 2008

The Online retail sales grew only 6% in the third quarter, the slowest growth on record for online sales, this according to a report from comScore Inc. Total U.S. online retail sales (excluding travel) were approximately $30 billion in Q3.

comScore, Inc. (Nasdaq: SCOR), a leader in measuring the digital world, today released its Q3 2008 retail e-commerce report, which showed that online spending grew 6 percent in Q3 2008 versus the same period last year, a slowdown compared to the year-over-year growth rates of 12 percent in Q1 and 13 percent in Q2 2008. Total U.S. online retail sales (excluding travel) were approximately $30 billion in Q3.

The Video Games, Consoles and Accessories remained the high – performer in line with the previous quarter.

As in the prior quarter, Video Games, Consoles & Accessories remains one of a handful of high-performing online retail categories, rising 60 percent in Q3 2008 versus the same quarter year ago. Furniture, Appliances & Equipment (up 52 percent) was another top performer, along with the Sport & Fitness category (up 40 percent). Categories that have not performed as well as last year include Apparel & Accessories (down 2 percent), Toys & Hobbies (down 3 percent), Jewelry & Watches (down 11 percent), and Music, Movies & Videos (down 29 percent).

                                                  Percent Change

    Product Category                           Q3 2008 vs. Year Ago


    Total Retail Category (Excludes Travel)               6%

    Video Games, Consoles & Accessories                  60%

    Furniture, Appliances & Equipment                    52%

    Sport & Fitness                                      40%

    Event Tickets                                        18%

    Flowers, Greetings & Misc. Gifts                     14%

    Home & Garden                                         6%

    Consumer Electronics (excluding PC Peripherals)       1%

    Computers, Peripherals & PDAs                         0%

    Apparel & Accessories                                -2%

    Toys & Hobbies                                       -3%

    Jewelry & Watches                                   -11%

    Music, Movies & Videos                              -29%