US online retail spending totaled $30.2 billion in Q209, down 1% vs. the same period a year ago, according to retail e-commerce sales estimates from comScore.? Q209 represents only the second quarter on record where e-commerce spending has been lower than the same quarter the previous year, the firm said.
Fastest Growing Product Categories in Q209
The study also revealed that the fastest-growing category in Q209 vs. Q208 was Toys & Hobbies, which grew 21%, followed by Books & Magazines (up 17 %), and Video Games, Consoles & Accessories (up 15%).
“The marginally negative growth in Q2, on the heels of flat growth in Q1, signals that online retail spending has yet to turn the corner after a disappointing end to last year,” said comScore Chairman Gian Fulgoni. “Unfortunately, it appears that the reality of nearly 10% unemployment and rising gas prices, coupled with an increased savings rate, continues to hold down consumers’ discretionary spending and it may still take some time to dig our way out of this recession.”