November 21, 2001, 12:00 AM

Online spending contracts in October, Forrester reports

Consumers spent $2.74 billion at online retail sites in October, down 6% from September’s $2.91 billion. October’s retail spending was 14% below the level of October 2000.

Kurt Peters

Executive Editor

Consumer online retail spending sagged in October compared to September, Forrester Research Inc.’s latest survey of online shopping reveals. Consumers spent $2.74 billion at online retail sites in October, down 6% from September’s $2.91 billion. October’s retail spending was 14% below the level of October 2000.

When travel spending is included in Forrester’s figures, consumers spent $3.6 billion online, down 10% from $4 billion in September. The number of households shopping online fell to 13.7 million from 15.2 million in September.

Forrester attributes the decline to zero-percent financing deals in the offline world, especially for cars.

 

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