A new forecast from Forrester Research credits greater online spending by Canadians, lower shipping costs and more selection for the spending increase.
E-commerce revenue grew 41.3% year over year in 2010 while total sales rose 18.5%.
Sales were up across the board for specialty apparel retailer Abercrombie & Fitch Co. last year, but the Internet grew nearly six times faster than stores.
For the fiscal year 2010 ended Jan. 29, Abercrombie, No. 65 in the Internet Retailer Top 500, reported:
- E-commerce revenue grew year over year 41.3% to $352.5 million from $249.4 million in fiscal 2009.
- Total sales increased year over year 18.5% to $3.46 billion from $2.92 billion.
- Comparable-store sales increased 7%.
Abercrombie won’t release figures for net income and other specifics until full earnings are reported Feb. 16, the retailer says. Internet Retailer calculates the web accounted for 10.2% of total sales in fiscal 2010 compared with 8.5% in fiscal 2009.
For the fourth quarter:
- E-commerce revenue grew year over year 43.4% to $133.4 million from $93 million in Q4 of fiscal 2009.
- Total sales increased year over year 21.8% to $1.14 billion from $936 million.
- Comparable-store sales increased 13%.
Internet Retailer calculates the web accounted for 11.7% of total sales in the final quarter of fiscal 2010 compared with 9.9% in the fourth quarter of fiscal 2009.