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 fell nearly 7.1% last week.
There was little to be thankful for last week for e-commerce investors as the 25-stock Internet Retailer Online Retail Index fell 7.13 for the week ended Nov. 25.
That was even worse than the dismal showing of the broader stock market, as the Dow Jones Industrial Average lost 4.78% and the Standard & Poor’s 500 Index fell 4.69%.
Only one stock in the Online Retail Index advanced last week, online jewelry retailer Blue Nile, which recently reported an 11.1% increase in third quarter sales, and then sent its CEO packing.
Bringing up the rear last was Netflix, which continues to be hammered by investors after reporting a significant loss of subscribers in its third quarter and is in the process of raising $400 million to pay for its increasingly expensive on-demand content.
Here are the best-performing stocks last week in the Online Retail Index and the percentage change in stock price for each:
• Blue Nile, 3.2%
• eGain, -0.5%
• Vitacost, -2.6%
• American Greetings, -2.8%
• Overstock, -3.4%
Here are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
• Netflix, -18.2%
•Keynote Systems, -15.0%
• Coastal Contacts, -13.6%
• 1800Flowers.com, -13.3%
• LivePerson, -12.4%
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.