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Online Jewelry, Watch Sales +15% in 3Q11

Overall Retail Sales Rose 13% to $36B

Nov 9, 2011 12:02 PM   By Jeff Miller
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RAPAPORT... Online metrics firm comScore Inc. reported that  U.S. Internet retail sales for the third quarter, which ended September 30, 2011, rose 13 percent year on year to $36.3 billion. This healthy growth rate represented the eighth consecutive quarter of positive gains and the fourth consecutive quarter of double-digit growth rates. According to comScore, top  categories for online sales were ''digital content and subscriptions,'' event tickets, jewelry and watches, consumer electronics and software. Each of those categories grew at least 15 percent year on year, comScore stated without providing specific figures.

''The third quarter of 2011 saw a continuation of the year’s strength in U.S. retail e-commerce spending, even in the face of renewed economic headwinds and uncertainty facing the U.S. consumer,'' said comScore's chairman, Gian Fulgoni. ''As we approach the critical holiday shopping season, we are optimistic about the continued health of the e-commerce sector despite other factors – including stubbornly high unemployment and volatile financial markets – currently weighing on the economy. More consumers than ever before are relying on the online channel for product and pricing information, which along with the Internet’s fundamental appeal of convenience and attractive pricing, are contributing to the sustained upward momentum in e-commerce spending.''

Double-digit sales growth online was also driven by a 22 percent jump in the number of consumers buying online compared with one year ago. Other information provided noted that 40 percent of retail transactions included free shipping, which was down from a peak of 49 percent in fourth quarter 2010.

Tags: comScore, Jeff Miller, Jewelry, Online, retail, sales, Third Quarter, watches
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