Even with a new lease on life, Linens ‘N Things online faces a tough fight.
First-half online retail spending rises 25% to $46 billion, study says
Online non-travel spending by consumers increased 24.6% year-over-year for the first half of this year, to $46.1 billion from $37 million, comScore Networks reports.
Chief Technology Editor
Online retail spending by consumers increased 24.6% year-over-year for the first half of this year, to $46.1 billion from $37 million, comScore Networks reports. By comparison, total online spending including travel rose 20% to $80.8 billion from $67.2 billion.
"Despite the sluggishness of retail growth in general, online consumer spending remains strong," says Gian Fulgoni, chairman and co-founder of comScore Networks. "Growth in non-travel online spending continues at a rate of 25% year-over-year, which suggests that consumers` online purchase behavior has been relatively unaffected by the general economic trends. This news certainly bodes well for online retailers for the upcoming holiday season, with online consumer spending expected to reach $24 billion in November and December."
As previously reported, comScore expects online retail sales to reach $102 billion for the full year, surpassing $100 billion for the first time.
In the first half, the office supplies category led growth in retail online sales with a year-over-year increase of 54%, followed by computer software, 39%; sport and fitness, 38%; home and garden, 36%; and toys and hobbies, 33%.