Q2 online sales pick up the pace, growing 23% over year-ago quarter
Online retail sales in the second quarter grew 23% over Q2 a year ago, reaching $27.2 billion from $22.2 billion, comScore Networks Inc. reports.
For the first half of the year, online retail sales were $55.1 billion, up 20% from $46.1 billion in the first half of 2006, reports comScore, which measures Internet traffic and usage. Q1 sales were up 17% vs. a year earlier.
“Retail e-commerce rebounded solidly in the second quarter after a modest start to the year,” says Gian Fulgoni, chairman of comScore. “After posting 17% growth versus a year ago in Q1, retail e-commerce sales grew 23% year-over-year in Q2, matching the growth rates we’ve seen during the past couple of years.”
Online travel sales in the second quarter grew 14% over a year earlier to $20.3 billion from $17.8 billion. For the first half of the year, online travel sales were $39.6 billion, up 14% from $34.7 billion a year earlier.
Fastest growth in online retail sales was in video games, consoles and accessories, where online sales were up 159% over a year earlier, on the strength of Nintendo Wii and PlayStation 3 sales, comScore reports. The top 10 categories in online sales growth, with growth over a year ago, in Q2, according to comScore, were:
- Video Games, Consoles & Accessories, 159%
- Sport & Fitness, 58%
- Consumer Electronics (excl. PC Peripherals), 51%
- Event Tickets, 44%
- Jewelry & Watches, 32%
- Furniture, Appliances & Equipment, 25%
- Music, Movies & Videos, 24%
- Computer Software (excl. PC Games), 23%
- Books & Magazines, 22%
- Apparel & Accessories, 20%
ComScore projects that online consumer spending on retail and travel will reach $200 billion this year, up from $170.1 billion last year.
“Even factoring in the moderate growth rates from Q1, we’re currently on pace to break $200 billion in e-commerce spending in 2007,” Fulgoni says. “However, in the past we’ve seen growth rates accelerate as the year progresses, culminating with the online holiday shopping season, so $200 billion may actually turn out to be a conservative estimate.”
ComScore’s numbers exclude sales at eBay.com that could be construed as retail.
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