October 29, 2002, 12:00 AM

Q3 online sales grow 30% over last year; Q4 on track to break expectations

Third quarter online retail sales reached $9.9 billion, 30% over Q3 2001, comScore reports. Based on nearly $1 billion in sales the first week of October, comScore is projecting Q4 online sales will reach or exceed its projection of $13.8 billion.

Kurt Peters

Executive Editor

 

Third quarter online retail sales reached $9.9 billion, 30% over Q3 2001’s $7.6 billion, comScore Networks Inc. reported today. For the year so far, online sales total $29.7 billion, 30% higher than last year’s $22.9 billion in the first nine months and nearly 90% of last year’s total online sales of $33.5 billion.

Online travel sales for the first nine months came to $22.8 billion, 59% higher than last year’s $14.3 billion in the first nine months.

"While the third quarter opened sluggishly, sales in August and September climbed strongly, reflecting continued strength in consumer spending," said Michelle David Adams, comScore Networks vice president.

Based on nearly $1 billion in sales the first week of October, the highest sales week so far this year, comScore is projecting that online sales during fourth quarter will reach or exceed its projection of $13.8 billion, 28% higher than last year’s Q4 spending of $10.8 billion.

"While the third quarter brought positive results, all attention is now focused on the make-it-or-break-it fourth-quarter," said Adams. "There`s clearly a mandate for retailers to be creative and aggressive in designing promotions that increase consumer confidence and persuade shoppers to spend more, earlier."

ComScore reports that computer hardware continues to be the largest non-travel product category, and with aggressive pricing by Dell and others, the sector is also an e-commerce growth leader.

ComScore’s top categories with total sales in millions and growth vs. Q3 last year are:
Computer Hardware: $2,661, 35%
Office: $1,422, 47%
Apparel & Accessories: $1,312, 22%
Consumer Electronics: $844, 18%
Books: $538, 10%
Event Tickets: $448, 33%
Home & Garden: $388, 16%
Health & Beauty: $259, 21%
Sport & Fitness: $252, 47%
Movies & Video: $202, 34%

comScore`s sales figures are based on the buying activity of a representative cross-section of more than 1.5 million Internet-using individuals, who have given comScore permission to confidentially monitor their browsing and buying behavior.

 

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