2010 e-commerce trends
According to recent research published by ComScore, 2010 was the year the web bounced back. Depressed consumer discretionary spending going back to the end of 2008 finally gave way to improving consumer sentiment, helping lead the U.S. e-commerce market back to consistent positive growth in 2010. Total U.S. e-commerce spending reached $227.6 billion in 2010, up 9 percent versus the previous year. Travel e-commerce spending grew 6 percent to $85.2 billion, while retail (non travel) e-commerce spending jumped 10 percent to $142.5 billion for the year.
The 2010 holiday season represented a high point in this bounce-back year for retail e-commerce, with growth rates surging to 12 percent – even outpacing comScore’s initial forecast of 11 percent for the season. While some of the holiday season growth can be attributed to consumers taking advantage of discounting and promotional activity online (most notably, free shipping), it is also a clear sign of improving consumer confidence.
Not surprisingly, November ($14.5 billion) and December ($18.1 billion) were the heaviest online spending months of the year, and they also exhibited accelerating growth rates versus the preceding months (Note: November and December growth rates calculated based on comparable shopping days in 2009, not calendar dates.)
A date to put in your diary, was Cyber Monday (Monday, November 29, 2010) which peaked at $1.028 billion spent online. For retailers, this is a trend that will surely continue, and it makes sense to observe these trends for preparation on growth next year.
This historic day for e-commerce was not only the first day on record where spending surpassed $1 billion,but also the first time cyber monday ranked as the heaviest online spending day of the season.
Several retail categories performed particularly well in 2010. Consumer Electronics ranked as the top growing category by dollar sales at 19 percent growth, bolstered by the popularity of flat panel TVs and mobile devices.
