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Online Retail Spending Expected To Top $100 Billion This Year

E-commerce sales rose to $80.8 billion from $67.2 billion during the same period last year, ComScore Networks reported this week. Nontravel retail increased 24.6% from a year ago to $46.1 billion, and travel spending rose 14.7% to $34.7 billion.
Online consumer spending increased by 20.1 percent in the first of the year, despite sluggish growth in retail in general, a research firm said.

E-commerce sales rose to $80.8 billion from $67.2 billion during the same period last year, ComScore Networks reported this week. Non-travel retail increased 24.6 percent from a year ago to $46.1 billion, and travel spending rose 14.7 percent to $34.7 billion.

"Despite the sluggishness of retail growth in general, online consumer spending remains strong," Gian Fulgoni, chairman and co-founder of ComScore, said in a statement.

The double-digit growth rates indicate that online buying has been unaffected by the general economic trends, which show consumers a bit skittish because of higher fuel costs.

"This news certainly bodes well for online retailers for the upcoming holiday season, with online consumer spending expected to reach $24 billion in the November through December period," Fulgoni said.

For the full year, ComScore expects online spending overall to reach $170 billion, including $102 billion in non-travel e-commerce. This year could mark the first time such spending has topped $100 billion.

In the retail category in the first half of the year, office supplies accounted for 54 percent of spending, followed by computer software, 39 percent; sports and fitness, 38 percent; home and garden, 36 percent; and toy and hobbies, 33 percent.

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