November 21, 2001, 12:00 AM

Online spending contracts in October, Forrester reports

Consumers spent $2.74 billion at online retail sites in October, down 6% from September’s $2.91 billion. October’s retail spending was 14% below the level of October 2000.

Consumer online retail spending sagged in October compared to September, Forrester Research Inc.’s latest survey of online shopping reveals. Consumers spent $2.74 billion at online retail sites in October, down 6% from September’s $2.91 billion. October’s retail spending was 14% below the level of October 2000.

When travel spending is included in Forrester’s figures, consumers spent $3.6 billion online, down 10% from $4 billion in September. The number of households shopping online fell to 13.7 million from 15.2 million in September.

Forrester attributes the decline to zero-percent financing deals in the offline world, especially for cars.

 

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