According to comScore, retail e-commerce sales growth slows to 6 percent in Q3 2008 versus last year and to 11 percent in the jewelry and watches segment, which was one of the weakest in the United States online retail market.
A review of monthly retail e-commerce growth rates helps to further depict the slowdown in the U.S. retail economy. So far this year, retail e-commerce growth rates have fallen from levels of 18 to 20 percent observed during Q4 of 2007 to a growth rate of only 6 percent in Q3 2008. Since April, we have seen five consecutive months of declining growth rates. September’s 5-percent growth rate is the lowest recorded by comScore since it began tracking e-commerce sales in 2001.
ComScore also noted a pessimistic outlook among consumers where only 26 percent felt that economy would improve during the next year and 82 percent said they were “more afraid about the economic future than ever before.”
“Consumers’ economic pressures continue to have a significant impact on retail spending, which is evident in the slowing growth rates in the online channel,” commented Gian Fulgoni, chairman of comScore.
Well, while the industry leaders - "the big guys" as they say, experience decline in sales most of my artisan friends who design and sell jewelry themselves say that overall sales are doing GOOD.
How this economy treats you?
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