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dips once more Second quarter off 1 percent from last year, says comScore Aug 11, 2009 The internet is stuck in reverse right along with the rest of the economy. For only the second time, quarterly e-commerce sales have contracted compared to the previous year, with second-quarter e-spending falling 1 percent, according to numbers issued by comScore yesterday. Non-travel online retail spending totaled $30.2 billion, excluding auctions, autos and large corporate purchases. That follows a flat first quarter and a down fourth quarter 2008, when spending fell 3 percent compared to the previous year, the first time spending had decreased. Before that, web retail spending had been growing at a robust rate, peaking with increases of 23 percent in second and third quarter 2007. By third quarter 2008, that had fallen to a 6 percent increase. Still, there were several categories that did see growth. Toys and hobbies was up the most, 21 percent over last year, followed by books and magazines, up 17 percent, and video games, consoles and accessories, up 15 percent. “The marginally negative growth in Q2, on the heels of flat growth in Q1, signals that online retail spending has yet to turn the corner after a disappointing end to last year,” said comScore chairman Gian Fulgoni in a statement. “Unfortunately, it appears that the reality of nearly 10 percent unemployment and rising gas prices, coupled with an increased savings rate, continues to hold down consumers’ discretionary spending, and it may still take some time to dig our way out of this recession.”
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