Online retail spending soared to $41.9 billion compared to the same period last year, the twelfth consecutive quarter year on year growth, a study by comScore reveals.
Top performers included digital content and subscriptions, consumer electronics, event tickets apparel and accessories and computer software, all of which grew by over 16 percent compared to last year.
According to the study, there was improved consumer sentiment despite buyers still hard pressed by the harsh economic times. Only 48 percent of consumers consider the economy poor as compared to 56 percent in the prior quarter, an all time best optimism since the global financial crisis in 2008.
The uptake of smartphones has also helped e-commerce with 37 percent of the correspondents in the study revealing their engaged in show rooming (checking the prices online before purchasing in a store) as well as online buying a jump of 5 percent in the last 8 months.
According to the latest figures by the same company, smartphone penetration passed the 50 percent threshold in the third quarter, with 119.3 million people using the devices equal to 51 percent.
According to comScore, this is great news especially as the economy heads to the festive season.
“Such performance offers some optimism as we approach the holiday season, especially given the improvements in consumer sentiment, there appears to be a strong enough footing to support a very healthy online holiday season,” comScore’s chairman Gian Fulgoni said.
The fourth quarter has always been the strongest growing at faster rates than other quarters since 2009.