A Celebration of Jewelry and the Business Behind the Beauty
Leibish & Co
Wednesday, November 7, 2012
Consumers Online Spending Up 15% in Q3
Online retail spending for the third quarter increased 15 percent year-over-year to $41.9 billion, representing the 12th consecutive quarter of positive year-over-year growth and eighth consecutive quarter of double-digit growth, according to comScore, Inc.
Gian Fulgoni, chairman of the Reston, Va.-based company that specializes in measuring digital data, said the numbers are consistent with the prior quarter and confirm “the strength in the e-commerce sector, despite a few negative headwinds in the macroeconomic environment during the quarter. Such performance offers some optimism as we approach the holiday season, especially given recent improvements in consumer sentiment.”
He added, “With the housing market beginning to show signs of recovery in addition to increasing–if still underwhelming–job growth, there appears to be strong enough footing to support a very healthy online holiday shopping season.”
Other highlights from comScore’s Q3 2012 U.S. retail e-commerce sales estimates include:
* The top-performing online product categories, according to the survey were: Digital Content & Subscriptions, Consumer Electronics, Event Tickets, Apparel & Accessories, and Computer Software. Each category grew at least 16 percent year-over-year.
* About 37 percent of U.S. consumers say they have engaged in “showrooming” behavior where they use a smartphone while in a retail store to check prices or to purchase a product online, representing a 5-percent increase in the past two quarters.
* According to the survey, 48 percent of U.S. consumers now rate the economy as “poor” an 8-percentage point improvement vs. the prior quarter and the most pronounced improvement since early 2009.
This blog is for those who are passionate about jewelry and watches and want to learn more about the industry. It's a place to find the best new products from all over the world and the latest news about the business of jewelry, watches and luxury. Readers gain a backstage pass to the glamour, fun and difficulties of the industry.
I am a freelance writer and editor who covers the luxury jewelry and watch industry for several publications, including Forbes.com the Financial Times, Hong Kong-based JewelleryNetAsiaand the Italian jewelry magazine, VO+. In addition, I have my own blog covering the jewelry and watch industry, Jewelry News Network.