Ecommerce spending sees 10% year-over-year growth in Q1 2010
Published May 27, 2010
Opportunities for digital marketing abound now more than ever, thanks to the rapid growth of ecommerce, comScore recently reported.
The digital research firm found that in the first quarter of 2010, U.S. retail ecommerce sales estimates found that online retail spending increased by 10 percent year-over-year, approaching $34 billion for the quarter.
This growth marks the second straight quarter of year-over-year growth, rebounding from mostly declines from the fourth quarter of 2008 to the third quarter of 2009.
"The first quarter returned the U.S. retail ecommerce market to healthy double-digit growth rates," said comScore chairman Gian Fulgoni. "While these spending gains provide reason for optimism, we should note that upper-income households are currently shouldering much of the growth … But for the time being, this momentum is encouraging."
The resurgent growth of online retail spending has particular implications for online video and social media, as a recent study from eMarketer found those are the top two priorities for ecommerce websites in the next 12 months.