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 gained 7.76% last week.
Stocks rebounded last week, with e-commerce stocks leading the way.
The Internet Retailer Online Retail Index, which tracks the stocks of 25 online retailers and e-commerce technology providers, gained 7.76%, regaining some ground lost during a brutal third quarter. Despite the gain, the Online Retail Index remains 11% below its level of June 30.
The broader market fared nearly as well last week, with the Dow Jones Industrial Average gaining 4.88% and the Standard & Poor’s 500 Index moving up 5.98%.
Leading the winners among e-commerce stocks was eGain Communications Corp., a provider of contact center software that moved from over-the-counter trading to the NASDAQ exchange last Wednesday. “The NASDAQ listing will provide increased visibility and a broader range of investors access to our stock as we strive to deliver the best knowledge-powered customer interaction product to the global market,” says eGain CEO Ashu Roy. The company’s shares gained more than 53% for the week.
Only four of the Online Retail Index stocks lost ground last week. Among them was online video rental and content-streaming retailer Netflix, which got little credit for backing off its plan to split its DVD rental and streaming video businesses into separate units in the face of adverse consumer reaction.
Here are the best-performing stocks last week in the Online Retail Index and the percentage gain in stock price for each:
• eGain, 53.6%
• LivePerson, 16.8%
• 1800Flowers.com, 15.5%
• Systemax, 10.3%
• United Online, 10.0%
Here are the Online Retail Index stocks that performed least well last week and the percentage change in stock price for the week:
• Bidz.com, -13.3%
• VistaPrint, -1.5%
• Bluefly, -1.3%
• Netflix, -1.0%
• Keynote Systems, +2.5%
The 25 companies in the Internet Retailer Online Retail Index are: 1-800-Flowers.com Inc., Akamai Technologies, Amazon.com Inc., American Greetings Corp., Bidz.com Inc., Blue Nile Inc., Bluefly Inc., Coastal Contacts Inc., DemandTec Inc., Digital River Inc., eBay Inc., eGain Communications Corp., Keynote Systems Inc., LivePerson Inc., Netflix Inc., NutriSystem Inc., Overstock.com Inc., PetMed Express Inc., Shutterfly Inc., Systemax Inc., U.S. Auto Parts Network, United Online Inc. (owner of FTD.com), ValueClick Inc., Vistaprint Ltd and Vitacost.com Inc.