• by Jack Loechner , Staff Writer @mp_research, October 12, 2003

Third Quarter Online Retail Sales Projected Up 24% this Year

BizRate.com reports that $12.43 billion was generated in online retail sales in the US in the third quarter of this year.

Online Retail Sales in the US, Q3 2002 vs. 2003 (billion $)

• 3rd Quarter 2002 $10.02
• 3rd Quarter 2003 $12.43

Source: BizRate.com Oct 2003

While online retail sales has grown over the year, says BizRate, the average amount spent online per person has declined between Q3 2002 and Q3 of this year -- from $145 per person to $123 per person. BizRate attributes this decline to the growing trend of comparison shopping online. 96% of online buyers in September said they comparison shop online most or all of the time.

Top Online Retail Sales Categories in US, Q3 2003 (billion $)

• Computer hardware $3.09
• Electronics $1.97
• Apparel $1.28
• Entertainment $1.24

Source: BizRate.com Oct 2003

Retail Forward projected that online retail sales in the US would reach $17.5 billion in Q4 2003, the holiday season. eMarketer expects online retail sales in the US to reach $55 billion by the end of this year, whereas Jupiter Research anticipates online retail sales will grow to over $94 billion this year.

You can find out more here at eMarketer.