BestMark News

Online retail continues strong monthly growth

Small retailers may want to consider augmenting their in-store offerings with an ecommerce presence, as online shopping continues to rake in sales amid a generally unenthusiastic market.

It is true that retail sales have been one of the few bright lights in the years since the recession began, but ecommerce continues to account for a growing portion of the consumer landscape. According to a report released this week by comScore, online retail spending reached $36.3 billion in the third quarter, up 13 percent from a year ago.

The increase marks the eighth consecutive quarter of positive year-over-year expansion and the fourth straight month of double-digit growth rates.

"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," said comScore chairman Gian Fulgoni.

Despite stubbornly high unemployment and a volatile financial market, analysts are confident that ecommerce will continue to expand, and with new developments in the mobile commerce space this trend is only expected to flourish.