We Are Q Inc.

comScore’s Chairman Gian Fulgoni gave his quarterly run down of the online retail economy in the context of the state of the US economy.  Here are some of my highlights:

• Travel industry hit with the biggest drop in online purchasing by 6%, non-travel online economy dropped 1%
• Sales trends through the third quarter of 09 mirror last year and show no growth
• All income segments showing declines in e-commerce spending, however the 18-44 age group is purchasing more versus year ago, particularly in the high income segment (+10%)
• The impact of higher consumer debt means consumers have less ability to spend on discretionary items
• Unemployment/job security continues to be a top concern among all consumers (less of an issue in Canada so we may benefit from more discretionary spending)
• The Books & Magazines category was a top performer in Q3 ’09, and will be one to watch as we head into the holiday season, followed by Consumer Electronics and Sports & Fitness (marginally up)
• Consumers buy online from 1 – 3 trusted websites (up YoY by ~2 sites)
• Pure play sites accounted for nearly six of every ten e-commerce dollars spent in Q3 2009, their highest share on record
• Invitation-only e-luxury sites are flourishing
• PayPal B2C Market Share has grown steadily over the past four years to almost 10% of B2C Transactions; 2008 Holiday-promotions drove an increase in PayPal dollar share for retailers
• Coupon sites continue to grow in importance during these tough economic times, and as we saw in Q4 2008 we‟ll likely see visits and UVs spike in Q4 2009
• Savvy Smartphone users are shopping using mobile (no real numbers available)
• Sites offering free shipping will see greatest lift in online conversion
• Busiest online shopping day of the year will be Dec 14, 2009

Dear reader, if you come across the same type of data for Canada, please comment.

Thanks comScore!