Top 25 online retailers accounted for 68.4% of dollars spent online
US eCommerce spending for the fourth quarter of 2010 was $43.4bn, an increase of 11% compared to $39.04bn for the same period last year, and was $32.13bn in the third quarter of 2010, according to data released by comScore.
comScore said that the Q4 growth rate represented the fifth consecutive quarter of positive year-over-year growth and second quarter of double-digit growth rates in the past year.
According to the study, the top-performing online product categories were Computer Software, Consumer Electronics, Books & Magazines, Computers/Peripherals/PDAs, and Toys & Hobbies.
All the top-performing online product categories registered growth rate of at least 15% year-on year.
The top 25 online retailers accounted for 68.4% of dollars spent online, up 5.6 percentage points a year ago.
However, this percentage represented a decline from Q3 2010, during which the top 25 retailers accounted for 69.9% of dollars, an indication that small and mid-sized retailers are also rebounding from the recession.
The report revealed that 84% of US Internet users conducted an online transaction in Q4 2010, up from 78% last year and the average buyer spent about the same amount online during the most recent quarter as they did last year.
comScore chairman Gian Fulgoni said retail e-commerce had a strong fourth quarter, growing 11% versus last year as holiday season spending was bolstered by an improving sentiment among some consumer segments and by retailers’ discounting and promotions.
"The 2010 holiday season saw the first billion-dollar day on record and several more surpassing $900m to help propel Q4 to record spending levels and we anticipate that the progress we’ve seen in the past year as we climbed out of the recession will continue with sustained double-digit growth rates in 2011," Fulgoni said.