July 25, 2001, 12:00 AM

Consumer spending slump hits e-retailing

Online retail consumer spending equaled $2.2 billion in June, down 18% from $2.68 billion in May, and the lowest level of online shopping since January, says the new Forrester Online Retail Index.

Retail spending on the web is feeling the effects of the soft economy, Forrester Research Inc. reported today. Online retail consumer spending equaled $2.2 billion in June, down 18% from $2.68 billion in May, and the lowest level of online shopping since January. June’s figure is even below June 2000 sales of $2.76 billion.

Total consumer spending on the web-retail as well as travel-also fell 18% to $3.21 billion in June from $3.92 billion in May. June 2000’s retail and travel spending combined totaled $4 billion.

Forrester’s Online Retail Index also reported that the number of households shopping online fell to 13.1 million from 14.8 million.

Forrester’s Online Retail Index is based on responses to 5,000 online surveys fielded by Greenfield Online Inc. In the first 10 days of each month, the survey asks consumers to recall how much they spent and on what in the previous month.

 

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