Internet Spending Growth At Its Lowest After Seven Years
Based on the report from comScore Inc., an internet research company, online spending rate has reached an all-time low since 2001, accounting a scanty one percent increase from that of last year. The results, however, does not include business from auctions, autos, and travel.
ComScore Chairman Gian Fulgoni stated, "While rising prices remained consumers' biggest concern in October, it's clear that the increase in the country's unemployment rate along with the shock of the financial market meltdown have had a negative impact on the psyche of the American consumer, and the effects were clearly felt in the online retail sector."
The conclusion of comScore's research verified reports from online retailers such as Amazon.com and Bluenile.com that internet vendors are also affected by the worldwide financial setbacks. In general, online retail outgoings from August to October rose by four percent.
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