First-ever decline in Web retail spending: comScore

AFP

Online retail spending fell 4 per cent in the first weeks of November from the same period last year, the first-ever such decline in e-commerce spending, online researcher comScore reported yesterday. The Reston, Va.-based company said $8.2-billion (U.S.) was spent online during the first 23 days of November, 4 per cent less than during the same period last year, when $8.5-billion was spent online. ComScore forecast that online retail spending for the November-December holiday period will be flat versus year ago, significantly lower than last year's growth rate of 19 per cent. Comcast said it expected e-commerce spending of $29.2-billion during the period, the same as last year. Online retail spending during the January-October period grew by 9 per cent over the same period last year to $102.1-billion.