A new forecast from Forrester Research credits greater online spending by Canadians, lower shipping costs and more selection for the spending increase.
The Internet Retailer Online Retail Index is up only 0.2% since Jan. 1.
E-commerce stocks fell sharply last week, along with the stock market as a whole. When the dust settled the Internet Retailer Online Retail Index was ahead only 0.2% for the year, after reaching an April peak of 18% over its Jan. 1 level.
The Online Retail Index of e-retailers and e-commerce technology providers is still faring better than the broader market: The Dow Jones Industrial Average is down 1.2% for 2010 the Standard & Poor’s 500 Index off 3.2%
For the week ended Friday, the Online Retail Index lost 4.21%, while the Dow Jones Industrial Average fell 3.29% and the Standard & Poor’s 500 Index slipped 3.78%.
Only three of the 25 stocks in the Online Retail Index gained last week, led by Netflix which reported a new deal to stream major movies to subscribers. Akamai Technologies Inc., whose content delivery network accelerates web site performance, reported its second straight strong week after a healthy Q2 earnings report.
Here are the best-performing stocks last week in the Online Retail Index and the change in stock price for each:
Here are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
United Online, -9.5%
Blue Nile, -8.8%
The 25 companies in the Internet Retailer Online Retail Index are: 1-800-Flowers.com Inc., Akamai Technologies, Amazon.com Inc., American Greetings Corp., Art Technology Group Inc., Bidz.com Inc., Blue Nile Inc., DemandTec Inc., Digital River Inc., Drugstore.com Inc., eBay Inc., GSI Commerce Inc., Keynote Systems Inc., LivePerson Inc., Netflix Inc., NutriSystem Inc., Overstock.com Inc., PetMed Express Inc., RealNetworks Inc., Shutterfly Inc., Systemax Inc., U.S. Auto Parts Network, United Online Inc. (owner of FTD.com), Vitacost.com Inc. and Vistaprint Ltd.