• by Gavin O'Malley  @mp_gavin, November 1, 2010

Online retail spending reached $32.1 billion in the third quarter of the year, according to new estimates released by comScore on Monday. That represents a nearly 10% increase year-over-year, and the fourth consecutive quarter of positive year-over-year growth following a year of flat or negative growth rates.

The continued growth is "a fairly positive indicator for the upcoming holiday season," ComScore chairman Gian Fulgoni said Monday. "However, we continue to preach caution due to the continuation of high unemployment, which is creating very divergent spending patterns between the 'haves' and the 'have nots,'" Fulgoni added. "Even Americans who do have jobs still aren't confident enough to spend freely and many are still pained by their loss of wealth since the financial crisis struck in 2008," he added. "That and a higher consumer savings rate leaves less money for spending."

During the quarter, the top-performing online product categories were Books & Magazines -- excluding digital downloads; computers/peripherals/PDAs, and computer software -- excluding PC Games; and consumer electronics. For comScore, growth in these specific categories indicates a higher willingness on the part of consumers to buy in-home entertainment.

Signaling further industry consolidation, the top 25 online retailers accounted for 70% of dollars spent online -- up 5.5 percentage points year-over-year.

Meanwhile, online "pureplay" retailers accounted for 58% of dollars spent online compared to 42% among multichannel retailers -- a percentage breakdown that remains unchanged year-over-year.

Also of note, 41% of online retail transactions included free shipping, down marginally from last year.

Overall, added Fulgoni, "until the economy begins adding jobs at a meaningful rate, the lack of spending power among consumers will continue to be a drag on purchasing, with many consumers indicating their intention to cut back on gift buying this holiday season."