E-Commerce Spending Increased 10% in the First Qtr 2010

U.S. online retail spending soared 10% to $34 billion in the first quarter — the largest quarterly jump in nearly two years by upper-income consumer spending – the largest increase in spending since the second quarter of 2008,  according to comScore.

Key first-quarter highlights are:

  • Sales growth in the first quarter was driven predominantly by upper-income consumers: Spending among households with annual incomes of $100,000 +  grew 14% year over year.
  • Pureplay (online-only) retailers continued to gain e-commerce spending market share from multichannel retailers.
  • Larger online retailers continued to generate higher growth rates than smaller retailers, but smaller retailers are finally beginning to see positive growth again.
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About Elias Shams
I have been a serial entrepreneur in telecom and social media space for past 12 years or so. I hold a M.S. degree in Telecommunication Engineering from the George Washington University and a B.S. degree in Electrical Engineering from the University of Maryland. I’ve lived and worked in many countries and cities including London England, Tehran Iran, Bonn Germany, Paris France, Alicante Spain, Delhi India, and my favorite of all Washington, DC of great US of A. Two of the greatest Washington, DC based companies I worked for and very proud of are Yurie Systems which was sold to Lucent in 1998 for $1.23 B and telezoo.com that I founded in 1999. I am currently the founder and awesomizer @ awesomize.me

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