Spending at Internet retail sites has rebounded to the levels it reached before the attack on the World Trade Towers and Washington, D.C. Sept. 11, reports BizRate.com.
E-retailing sites returned to 97% of their normal volume on Sept. 24, two weeks after the attack, BizRate.com says. BizRate is a comparison shopping site and provider of real-time e-commerce research.
BizRate expects retailing to sustain healthy growth into the fourth quarter with $11.55 billion in sales.
"The e-commerce industry is beginning to stabilize following a brief period of sharp decline in online sales brought on by the attacks," says Chuck Davis, president and CEO of BizRate. "From this point on we expect a storng recovery as American heed the advice of leaders and resume normal activities, incluiding shopping."
Sales on Sept. 10 totaled $92.41 million. That fell to $56.29 million, or 61% of the Sept. 10 total, the next day. By Sept. 17, sales had rebounded to $82.49 million, 89% of the Sept. 10 total, and on Sept. 24 to $89.68 million, 97% of the Sept. 10 figure.
BizRate.com also reports:
· Computer Software experienced a tremendous rebound with online sales on Sept. 24 reaching $8.08 million, 43% growth compared to Sept 10.
· Big-ticket categories like Computer Hardware are not rebounding as quickly. Sept. 24 sales were $16.57 million, or only 88% of corresponding sales on Sept 10.
· Although losses in sales for Food & Wine, Sports & Outdoors, and Apparel were 62%, 37%, and 34%, respectively on the day of the tragedy, these categories showed the most aggressive recovery. Sales actually grew above pre-tragedy (Sept. 4 – Sept. 10) levels, to 137%, 113%, and 107%, respectively for the week ending Sept. 24.
· One of the biggest category losers was Gifts & Flowers, which posted a 62% loss on Sept. 11; however, this category also experienced a strong surge in online sales, growing 33% from Sept 11 to Sept 12, as consumers logged on to send condolence gifts.
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