One encouraging sign for a country recovering from a recession is when consumers start snapping up products again. Though the U.S. is not out of the woods yet, a new report provides some happy news for at least one aspect of the economy. People are buying gadgets, tablets and computer software in droves according to a new report. Formerly atypical cyber shopping continues to expand and turn profits for e-commerce businesses.
Research firm comScore divulged U.S. residents spent over $37 billion online in the second quarter of 2011 – a 14 percent increase from last year. The figure also marks nearly a year of positive growth for the e-commerce retail industry, said the group. Prior to the 2009 holiday season, cyber sales slumped.
Gian Fulgoni, comScore chairman, believes this is a sign of things to come for online retailers.
“It’s clear that consumers are continuing to shift to the online channel, with almost $1 in every $10 of discretionary spending now occurring online,” said Fulgoni. He posited that “convenience and lower prices” remain key draws for discerning consumers.
Consumer electronics, computer hardware and computer software (in that order) topped the report as the three best-selling categories among online buyers. The bulk of spending was done at popular sites such as Amazon. Indeed, comScore revealed just 25 retail sites garnered around 66 percent of total online spending. The increase is believed to be the result of a boost in the number of online consumers, which is estimated to have grown 16 percent.
Fulgoni was hesitant to claim this as an overall victory, however.
“With economic growth remaining soft, the unemployment rate stubbornly high and financial markets in turmoil, consumers are less optimistic today than they have been in preceding quarters, which raises concerns for the future,” he said. “We believe the third quarter will be an important indicator of which direction this economy is really headed and what that will mean for consumer spending.” (via Home Media Magazine)